Arista Networks Price Target Raised to $82.00 at RBC Capital (ANET)
Equities researchers at RBC Capital lifted their target price on shares of Arista Networks (NASDAQ:ANET) from $77.00 to $82.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target points to a potential upside of 13.54% from the company’s current price.
Arista Networks (NASDAQ:ANET) traded up 1.79% on Friday, hitting $73.51. The stock had a trading volume of 1,121,243 shares. Arista Networks has a 52-week low of $55.00 and a 52-week high of $80.53. The stock’s 50-day moving average is $67.23 and its 200-day moving average is $66.65. The company has a market cap of $4.754 billion and a P/E ratio of 92.59.
Arista Networks (NASDAQ:ANET) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.22. The company had revenue of $137.90 million for the quarter, compared to the consensus estimate of $125.26 million. During the same quarter last year, the company posted $0.20 earnings per share. Arista Networks’s revenue was up 65.1% compared to the same quarter last year. Analysts expect that Arista Networks will post $0.69 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ANET. Analysts at ISI Group raised their price target on shares of Arista Networks from $80.00 to $90.00 in a research note on Friday. They now have a “strong-buy” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Arista Networks in a research note on Wednesday. They now have a $80.00 price target on the stock, up previously from $75.00. Finally, analysts at Northland Securities reiterated a “market perform” rating on shares of Arista Networks in a research note on Monday. They now have a $73.00 price target on the stock, up previously from $70.00. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $80.00.
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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