Arista Networks PT Raised to $85.00 at Cowen and Company (ANET)
Equities researchers at Cowen and Company increased their price objective on shares of Arista Networks (NASDAQ:ANET) from $70.00 to $85.00 in a research report issued on Friday. Cowen and Company’s price target suggests a potential upside of 18.01% from the company’s current price.
A number of other firms have also recently commented on ANET. Analysts at Needham & Company LLC raised their price target on shares of Arista Networks from $75.00 to $90.00 in a research note on Friday. Separately, 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average 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 52 week low of $55.00 and a 52 week high of $80.53. The stock’s 50-day moving average is $67.4 and its 200-day moving average is $66.77. The company has a market cap of $4.658 billion and a P/E ratio of 92.59.
Arista Networks (NASDAQ:ANET) last issued its quarterly 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. Analysts expect that Arista Networks will post $0.69 EPS 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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