Arista Networks Receives Average Rating of “Buy” from Brokerages (NASDAQ:ANET)
Shares of Arista Networks (NASDAQ:ANET) have been given an average recommendation of “Buy” by the nineteen ratings firms that are covering the company, Analyst Ratings.Net reports. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $84.33.
A number of analysts have recently weighed in on ANET shares. Analysts at Cowen and Company raised their price target on shares of Arista Networks from $70.00 to $85.00 in a research note on Friday, August 8th. Separately, 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, August 8th. Finally, 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, August 8th.
Shares of Arista Networks (NASDAQ:ANET) opened at 69.82 on Tuesday. Arista Networks has a one year low of $55.00 and a one year high of $80.53. The stock’s 50-day moving average is $68.2 and its 200-day moving average is $67.12. The company has a market cap of $4.515 billion and a price-to-earnings ratio of 80.28.
Arista Networks (NASDAQ:ANET) last announced its earnings results on Thursday, August 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the 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 $1.22 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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