Arista Networks PT Raised to $85.00 at Pacific Crest (ANET)
Pacific Crest lifted their price objective on shares of Arista Networks (NASDAQ:ANET) from $73.00 to $85.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the stock. Pacific Crest’s price objective indicates a potential upside of 18.01% from the company’s current price.
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 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 posted its quarterly earnings results 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 previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 65.1% on a year-over-year basis. Analysts expect that Arista Networks will post $1.02 EPS for the current fiscal year.
ANET has been the subject of a number of other recent research reports. 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. Separately, analysts at Gabelli downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Friday. They noted that the move was a valuation call. Finally, analysts at RBC Capital raised their price target on shares of Arista Networks from $77.00 to $82.00 in a research note on Friday. They now have an “outperform” rating on the stock. Six 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 company. The stock presently has a consensus rating of “Buy” and a consensus 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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