Arista Networks Now Covered by Analysts at Morgan Stanley (ANET)
Analysts at Morgan Stanley began coverage on shares of Arista Networks (NASDAQ:ANET) in a research report issued to clients and investors on Tuesday. The firm set an “overweight” rating and a $77.00 price target on the stock. Morgan Stanley’s price target suggests a potential upside of 23.42% from the stock’s previous close.
The analysts wrote, “Strength of platform creating opportunity for share gains in the $7.7 bn data center switch market drives a favorable risk-reward, even trading at 6.4x 2015e EV/Sales. Strong management is a plus. We see 23% upside to our $77 PT.”
A number of other analysts have also recently weighed in on ANET. Analysts at Barclays initiated coverage on shares of Arista Networks in a research note on Tuesday. They set an “overweight” rating and a $75.00 price target on the stock. Separately, analysts at JMP Securities initiated coverage on shares of Arista Networks in a research note on Tuesday. They set a “market perform” rating and a $85.00 price target on the stock. Finally, analysts at Cowen and Company initiated coverage on shares of Arista Networks in a research note on Tuesday. They set an “outperform” rating and a $70.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $76.08.
Arista Networks (NASDAQ:ANET) traded up 11.17% during mid-day trading on Tuesday, hitting $69.3594. The stock had a trading volume of 360,014 shares. Arista Networks has a one year low of $55.00 and a one year high of $72.63. The stock’s 50-day moving average is $64.32 and its 200-day moving average is $64.32. The company has a market cap of $4.485 billion and a P/E ratio of 79.99.
Arista Networks, Inc is a supplier of cloud networking solutions that use software to address the needs Internet companies, cloud service providers and next-generation data centers for enterprises.
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