Arista Networks Coverage Initiated by Analysts at SunTrust (ANET)
Equities research analysts at SunTrust began coverage on shares of Arista Networks (NASDAQ:ANET) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $100.00 price target on the stock. SunTrust’s target price would indicate a potential upside of 16.14% from the stock’s previous close.
Arista Networks (NASDAQ:ANET) traded up 2.68% on Tuesday, hitting $86.10. The stock had a trading volume of 329,586 shares. Arista Networks has a one year low of $55.00 and a one year high of $85.789. The stock’s 50-day moving average is $70.29 and its 200-day moving average is $68.88. The company has a market cap of $5.568 billion and a price-to-earnings ratio of 95.07.
Arista Networks (NASDAQ:ANET) last issued its quarterly earnings data 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 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 $1.23 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $85.54.
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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