Oppenheimer analysts boosted their earnings per share (EPS) forecast for shares of Aruba Networks (NASDAQ: ARUN) in a report released on Friday. Oppenheimer currently has an outperform rating and a $27.00 price target on the stock. Oppenheimer previously had a $25.00 price target on the company’s shares.
“Aruba delivered a better than expected Jan.-qtr. with a strong contribution across regions. Guidance was also better than our checks suggested and reinforces our comfort in our thesis, which is based on an expanding enterprise WiFi market and Aruba moving up the software stack and adding value. We’re particularly encouraged by the quickly growing interest in ClearPass, where trial activity effectively doubled QoQ to ~1,000. We still view ClearPass as providing good LT support for margins and as a key driver of customer additions with about one-third of trials with non-Aruba customers. Aruba Instant interest was also better than we expected, suggesting a good TAM expansion opportunity in the mid-market. We’re buyers.,” Oppenheimer’s analyst wrote.
Shares of Aruba Networks opened at 24.51 on Friday. Aruba Networks has a one year low of $12.36 and a one year high of $26.78. The stock’s 50-day moving average is currently $22.50. The company’s market cap is $2.757 billion.
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 $22.00 in a research note to investors on Friday. They now have a neutral rating on the stock. Separately, analysts at Morgan Stanley upgraded shares of Aruba Networks from an equal weight rating to an overweight rating in a research note to investors on Thursday, February 14th. They now have a $28.00 price target on the stock, up previously from $18.00. Finally, analysts at Craig Hallum upgraded shares of Aruba Networks from a hold rating to a buy rating in a research note to investors on Monday, January 28th. They now have a $29.00 price target on the stock, up previously from $21.00.
Seventeen equities research analysts have rated the stock with a buy rating, one has issued an overweight rating, and ten have assigned a hold rating to the company’s stock. The company has an average rating of overweight and a consensus price target of $25.85.
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