Arista Networks PT Raised to $95.00 at JMP Securities (ANET)
Research analysts at JMP Securities lifted their price target on shares of Arista Networks (NASDAQ:ANET) from $85.00 to $95.00 in a report released on Friday. JMP Securities’ price objective suggests a potential upside of 31.89% from the company’s current price.
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 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.
ANET has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, 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. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. 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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