Piper Jaffray Increases Aruba Networks Price Target to $28.00 (ARUN)
Stock analysts at Piper Jaffray hoisted their price target on shares of Aruba Networks (NASDAQ:ARUN) from $26.00 to $28.00 in a report issued on Wednesday. Piper Jaffray’s price objective points to a potential upside of 38.34% from the stock’s previous close.
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’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 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 32.5% on a year-over-year basis. On average, analysts predict that Aruba Networks will post $0.76 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus upgraded shares of Aruba Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 14th. They now have a $24.00 price target on the stock. Separately, 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. Finally, analysts at Macquarie upgraded shares of Aruba Networks from a “neutral” rating to an “outperform” rating in a research note on Monday, July 14th. They now have a $24.00 price target on the stock, up previously from $22.00. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Aruba Networks currently has a consensus rating of “Hold” and an average price target of $24.48.
In other Aruba Networks news, Insider Keerti Melkote sold 54,000 shares of Aruba Networks stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $20.06, for a total transaction of $1,083,240.00. The sale was disclosed in a 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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