Arista Networks Price Target Increased to $90.00 by Analysts at Needham & Company LLC (ANET)
Equities research analysts at Needham & Company LLC upped their target price on shares of Arista Networks (NASDAQ:ANET) from $75.00 to $90.00 in a research note issued to investors on Friday. Needham & Company LLC’s price objective would indicate a potential upside of 24.95% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at JMP Securities raised their price target on shares of Arista Networks from $85.00 to $95.00 in a research note on Friday. Separately, analysts at Pacific Crest raised their price target on shares of Arista Networks from $73.00 to $85.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Arista Networks in a research note on Friday. They now have a $90.00 price target on the stock, up previously from $70.00. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Arista Networks has a consensus rating of “Buy” and an average target price of $84.33.
Shares of Arista Networks (NASDAQ:ANET) opened at 72.03 on Friday. Arista Networks has a one year low of $55.00 and a one year 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 92.59.
Arista Networks (NASDAQ:ANET) last released its earnings data on Thursday, August 7th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 65.1% on a year-over-year basis. On average, analysts predict that Arista Networks will post $0.69 earnings per share for the current fiscal year.
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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