Goldman Sachs Reiterates Buy Rating On Aruba Networks (ARUN)

Goldman Sachs released an update today on Aruba Networks (NASDAQ: ARUN) after the company reported earnings yesterday after the closing bell. The Goldman analysts wrote, "Aruba reported strong July quarter (FQ4) results, with revenue/non-GAAP EPS of $77.3 mn/$0.10, vs. our estimate of $74.2 mn/$0.09 and the Street at $73.5 mn/$0.09."

They added that "We remain positive on Aruba stock, as the company's robust growth trajectory shows no signs of abatement even in the face of a deteriorating macro environment." Goldman has a Buy rating on the stock and a 12-month price target of $20.00. During today's trading session, ARUN has jumped 9.90% to $18.21.

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