Aruba Networks, Inc. (ARUN) has been upgraded today by the securities research analysts at investment firm Wedbush which increased Aruba Networks from a “neutral” rating to “outperform.” Wedbush did not adjust their price target outlook for ARUN which is still fixed at $30 dollars. ARUN began trading above last Friday’s close yet shares stumbled throughout intraday trading and eventually closed at $24.67 per share which set a fourth consecutive day stretch of daily loss despite today’s upgrade.
Aruba Networks is slated to release their next earnings report on August 25, 2011. Their last earnings report was released on May 29, 2011 and announced an EPS of 16 cents which was up 53.3 % over the previous year. Aruba Networks is currently trading below its 50 & 200-day moving averages and 2011 has overall been bullish for the company.
Aruba Networks (ARUN) is an information technology company doing business in the communications equipment industry and a leader in distributed enterprise networks that securely connect local and remote users to corporate IT resources. The company has market capitalization of $2,486,785,340 and 100,802,000 shares outstanding. ARUN has a 52-week high of $36.40 with the low being $13.19.