Aruba Networks (NASDAQ:ARUN) was upgraded by stock analysts at Needham & Company from a “hold” rating to a “buy” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $24.00 target price on the stock. Needham & Company’s price target would suggest a potential upside of 39.53% from the stock’s previous close.
ARUN has been the subject of a number of other recent research reports. Analysts at JMP Securities reiterated an “outperform” rating on shares of Aruba Networks in a research note to investors on Tuesday. They now have a $22.00 price target on the stock. Separately, analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of Aruba Networks in a research note to investors on Monday. They now have a $19.00 price target on the stock, up previously from $17.00. They noted that the move was a valuation call. Finally, analysts at Zacks upgraded shares of Aruba Networks from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, November 6th. They now have a $19.10 price target on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.54.
Aruba Networks (NASDAQ:ARUN) opened at 17.20 on Friday. Aruba Networks has a 52 week low of $12.38 and a 52 week high of $26.78. The stock has a 50-day moving average of $18.45 and a 200-day moving average of $17.07. The company’s market cap is $1.984 billion. Aruba Networks also saw some unusual options trading activity on Thursday. Stock traders purchased 11,129 call options on the company. This represents an increase of 538% compared to the typical daily volume of 1,745 call options.
Aruba Networks (NASDAQ:ARUN) last released its earnings data on Thursday, November 21st. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $160.90 million for the quarter, compared to the consensus estimate of $157.50 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts expect that Aruba Networks will post $0.67 EPS for the current fiscal year.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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