Needham & Company Starts Aruba Networks (ARUN) at Buy; Enterprise WiFi and BYOD Leader
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Price: $24.67 --0%
Rating Summary:
10 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company initiates coverage on Aruba Networks (NASDAQ: ARUN) with a Buy. PT $28.00.
Analyst, Richard Valera, said, "Aruba is the leading independent provider of enterprise grade WiFi equipment—one of the fastest growing enterprise infrastructure categories. As a more focused and agile alternative, in our view, to enterprise behemoth Cisco (Nasdaq: CSCO)(NR), Aruba is benefiting from secular trends toward mobility and “bring your own device” (BYOD) in the enterprise. As well, the company has aggressively added software-based features/functionality to its offerings in such areas as policy management and BYOD administration, which both affords differentiation and supports higher gross margins. We view ARUN’s valuation as reasonable (21x our cash-adjusted C2013E EPS) given the company’s robust growth prospects, and we view the recent pullback in the shares as an attractive entry point."
For an analyst ratings summary and ratings history on Aruba Networks click here. For more ratings news on Aruba Networks click here.
Shares of Aruba Networks closed at $21.56 yesterday.
Analyst, Richard Valera, said, "Aruba is the leading independent provider of enterprise grade WiFi equipment—one of the fastest growing enterprise infrastructure categories. As a more focused and agile alternative, in our view, to enterprise behemoth Cisco (Nasdaq: CSCO)(NR), Aruba is benefiting from secular trends toward mobility and “bring your own device” (BYOD) in the enterprise. As well, the company has aggressively added software-based features/functionality to its offerings in such areas as policy management and BYOD administration, which both affords differentiation and supports higher gross margins. We view ARUN’s valuation as reasonable (21x our cash-adjusted C2013E EPS) given the company’s robust growth prospects, and we view the recent pullback in the shares as an attractive entry point."
For an analyst ratings summary and ratings history on Aruba Networks click here. For more ratings news on Aruba Networks click here.
Shares of Aruba Networks closed at $21.56 yesterday.
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