Auriga Maintains a 'Buy' on Aruba Networks (ARUN); Negative Meru (MERU) Pre-Announcement Specific to Operating Performance

Auriga maintains a 'Buy' on Aruba Networks (NASDAQ: ARUN) price target of $28.00.

Auriga analyst said, "Meru Networks (Nasdaq: MERU)(not rated) issued a negative 1Q12 (March) sales pre-release after the market close yesterday indicating that sales would fall in the $19.0-$19.5 million range versus consensus expectations of $21.9 million in revenue...In addressing Meru's lagging performance relative to the superior growth demonstrated by Aruba Networks or Cisco Systems (Nasdaq: CSCO)(Buy), the board of directors recently hired a new CEO, who started just this past Monday. While speaking on the conference call yesterday evening, the new CEO indicated that lackluster March performance was related to three factors: (1) the evidently distracting effort placed in searching for and hiring a new CEO; (2) the training of new sales personnel spanning sales and engineering sales functions, the quantity of which nearly doubled Meru's existing sales force."

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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