Ruckus Wireless Inc (RKUS) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.09. The company posted revenue of $100.57 million in the period, compared to analysts expectations of $98.48 million. The company’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.
Many Wall Street Analysts have commented on Ruckus Wireless Inc. Company shares were Downgraded by RBC Capital Mkts on Apr 5, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 13.50 from a previous price target of $12 .Ruckus Wireless Inc was Downgraded by Macquarie to ” Neutral” on Apr 5, 2016. Ruckus Wireless Inc was Downgraded by Stifel to ” Hold” on Apr 5, 2016.
Ruckus Wireless Inc opened for trading at $13.6 and hit $13.97 on the upside on Wednesday, eventually ending the session at $13.94, with a gain of 1.75% or 0.24 points. The heightened volatility saw the trading volume jump to 26,14,223 shares. Company has a market cap of $1,251 M.
In a different news, on Apr 18, 2016, Scott R. Maples (V.P. Legal & General Counsel) sold 8,800 shares at $13.48 per share price. According to the SEC, on Apr 13, 2016, Seamus Hennessy (Chief Financial Officer) sold 60,800 shares at $13.59 per share price. On Apr 11, 2016, Georges Antoun (director) sold 11,100 shares at $13.81 per share price, according to the Form-4 filing with the securities and exchange commission.
Ruckus Wireless Inc. is a global supplier of carrier-class wireless fidelity (Wi-Fi) solutions. The Company’s Smart Wi-Fi solutions are used by service providers and enterprises to solve a range of network capacity coverage and challenges associated with wireless traffic demands created by the growth in the number of users equipped with smart wireless devices using data rich applications and services. It markets its products and technology through a network of channel partners to a range of service providers and enterprises. Its products include hardware gateways; controllers; wireless bridges; indoor and outdoor access points; gateway and controller software platforms; software management solutions including reporting and analytics and Wi-Fi-related cloud services such as location-based positioning and public access. Its Smart WiFi technologies include Smart Radio SmartCast Smart Mesh SmartCell Set-It-And-Forget-It and Smart Scaling.