Aruba Networks Stock Rating Reaffirmed by Wedbush (ARUN)
Wedbush reaffirmed their outperform rating on shares of Aruba Networks (NASDAQ: ARUN) in a report issued on Tuesday. They currently have a $28.00 target price on the stock, up from their previous target price of $26.00.
“We maintain our OUTPERFORM rating as new software platforms, the controller upgrade opportunity and 802.11ac ratification are key growth drivers which should drive share gains over the next 12-18 months, despite weak IT spending and macro headwinds. While we are concerned about the impact of competition and a muted spending environment, we believe secular trends outweigh NT concerns. In our view, long-term investors seeking strong execution and a secular growth story should own the name.,” the firm’s analyst commented.
ARUN has been the subject of a number of other recent research reports. Analysts at Needham & Company raised their price target on shares of Aruba Networks from $23.00 to $25.00 in a research note to investors on Friday, February 22nd. They now have a buy rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Aruba Networks to $28.00 in a research note to investors on Friday, February 22nd. Finally, analysts at Deutsche Bank raised their price target on shares of Aruba Networks from $17.00 to $22.00 in a research note to investors on Friday, February 22nd. They now have a hold rating on the stock.
Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $25.09.
Shares of Aruba Networks (NASDAQ: ARUN) opened at 25.81 on Tuesday. Aruba Networks has a 52 week low of $12.36 and a 52 week high of $26.78. The stock’s 50-day moving average is currently $24.02. The company has a market cap of $2.941 billion and a P/E ratio of 445.00.
Aruba Networks, Inc. is a provider of next-generation network access solutions for mobile enterprise networks.
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