Arista Networks Given New $90.00 Price Target at ISI Group (ANET)
Analysts at ISI Group upped their price target on shares of Arista Networks (NASDAQ:ANET) from $80.00 to $90.00 in a research report issued to clients and investors on Friday. The firm currently has a “strong-buy” rating on the stock. ISI Group’s price target would indicate a potential upside of 24.95% from the stock’s previous close.
Shares of Arista Networks (NASDAQ:ANET) traded down 0.26% during mid-day trading on Friday, hitting $72.03. 1,427,136 shares of the company’s stock traded hands. Arista Networks has a 52 week low of $55.00 and a 52 week high of $80.53. The stock has a 50-day moving average of $67.4 and a 200-day moving average of $66.77. The company has a market cap of $4.658 billion and a price-to-earnings ratio of 81.98.
Arista Networks (NASDAQ:ANET) last issued its quarterly earnings data 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. On average, analysts predict that Arista Networks will post $1.02 earnings per share for the current fiscal year.
ANET has been the subject of a number of other recent research reports. 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. Separately, analysts at Northland Securities reiterated a “market perform” rating on shares of Arista Networks in a research note on Monday, August 4th. They now have a $73.00 price target on the stock, up previously from $70.00. Finally, analysts at Citigroup Inc. initiated coverage on shares of Arista Networks in a research note on Friday, August 1st. They set a “neutral” rating and a $70.00 price target on the stock. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $84.33.
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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