(Aruba Networks story updated to reflect analyst commentary and stock price changes.)
NEW YORK ( TheStreet) -- Shares of enterprise network provider Aruba Networks (ARUN) have fallen with the broader equity market after Friday's huge surge following the company's strong first-quarter guidance.
Aruba Networks issued per share guidance of 11 cents on revenue of $79 million to $81 million after reporting strong fourth-quarter earnings. Analysts on average were expecting earnings per share of 10 cents on revenue of $77.8 million.
Aruba Networks stock has fallen1.4% to $18.13 after shooting up 11.4% to $18.45 in Friday afternoon. More than 1.3 million shares of Aruba have changed hands vs. the three month average daily volume of 1.74 million.
On Friday afternoon, 5.6 million shares of Aruba had changed hands, compared with the three month average daily volume of 1.54 million."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 Sachs analyst Simona Jankowski told clients in an investor note earlier. "This was evidenced not only by the company's beat-and-raise, but also by a very strong new customer count of 900, above the 500 to 700 range of the last eight quarters." Furthermore, Jankowski expects Aruba to continue to benefit from share gains, boosted by its recently announced OEM relationship with Dell (DELL - Get Report). Meanwhile, BMO Capital Markets analysts have a market perform rating on Aruba following the company's quarterly report -- while raising the price target from $13 to $15 based on stock valuation.