Aruba Networks Upgraded by JPMorgan Chase & Co. to “Neutral” (ARUN)
Aruba Networks (NASDAQ:ARUN) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
In other Aruba Networks news, Insider Keerti Melkote sold 54,000 shares of Aruba Networks stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $20.06, for a total value of $1,083,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Aruba Networks (NASDAQ:ARUN) opened at 20.24 on Wednesday. Aruba Networks has a 52-week low of $15.97 and a 52-week high of $23.58. The stock has a 50-day moving average of $18.28 and a 200-day moving average of $19.0. The company’s market cap is $2.201 billion.
Aruba Networks (NASDAQ:ARUN) last posted its quarterly earnings results 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 Mizuho raised their price target on shares of Aruba Networks from $20.00 to $21.00 in a research note on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Aruba Networks from $24.00 to $26.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $24.60.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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