Arista Networks Inc (ANET) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.68 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.60. The company posted revenue of $242.20 million in the period, compared to analysts expectations of $237.55 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
Many Wall Street Analysts have commented on Arista Networks Inc. Company shares were Reiterated by RBC Capital Mkts on Mar 30, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .RBC Capital Mkts Resumed Arista Networks Inc on Mar 16, 2016 to “Sector Perform”, Price Target of the shares are set at $60.
Arista Networks Inc closed down -1.72 points or -2.68% at $62.55 with 8,29,111 shares getting traded on Wednesday. Post opening the session at $63.79, the shares hit an intraday low of $61.8501 and an intraday high of $64.09 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Apr 19, 2016, Anshul Sadana (SVP, Customer Engineering) sold 10,000 shares at $63.56 per share price. According to the SEC, on Jan 4, 2016, Mark Stephen Smith (Sr. VP, Worldwide Sales) sold 1,150 shares at $78.21 per share price. On Dec 15, 2015, Jayshree Ullal (President and CEO) sold 14,520 shares at $70.37 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS) a set of network applications and its 10/40/100 Gigabit Ethernet switches. The Company offers range of product lines of data center 10/40/100 Gigabit Ethernet switches in the industry which consist of its 7050 Series and 7150 Series top-of-rack switches 72XX/7300 X Series SPLINE switches and its 7280 and 7500 E Series spine switches. EOS supports cloud and virtualization solutions including VMware NSX Microsoft System Center OpenStack and other cloud management frameworks. The Company also offers EOS+ a software platform for network programmability and automation.