Aruba Networks PT Raised to $26.00 (ARUN)
Research analysts at Stifel Nicolaus hoisted their price objective on shares of Aruba Networks (NASDAQ:ARUN) from $24.00 to $26.00 in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 28.46% from the stock’s previous close.
Aruba Networks (NASDAQ:ARUN) opened at 20.24 on Wednesday. Aruba Networks has a one year low of $15.97 and a one year high of $23.58. The stock’s 50-day moving average is $18.28 and its 200-day moving average is $19.0. The company’s market cap is $2.201 billion.
Aruba Networks (NASDAQ:ARUN) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $202.90 million for the quarter, compared to the consensus estimate of $194.83 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. Analysts expect that Aruba Networks will post $0.76 EPS for the current fiscal year.
A number of other firms have also recently commented on ARUN. Analysts at Pacific Crest cut their price target on shares of Aruba Networks from $63.00 to $62.00 in a research note on Wednesday. Separately, analysts at Piper Jaffray raised their price target on shares of Aruba Networks from $26.00 to $28.00 in a research note on Wednesday. Finally, analysts at Buckingham Research initiated coverage on shares of Aruba Networks in a research note on Wednesday, July 16th. They set a “neutral” rating and a $19.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Aruba Networks has a consensus rating of “Hold” and an average price target of $24.60.
In other Aruba Networks news, Insider Keerti Melkote sold 54,000 shares of Aruba Networks stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $20.06, for a total value of $1,083,240.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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