Arista Networks Inc (ANET) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 80 from a previous price target of $70 . RBC Capital Mkts advised their investors in a research report released on Aug 31, 2016.
Many Wall Street Analysts have commented on Arista Networks Inc. Company shares were Reiterated by UBS on Aug 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 72 from a previous price target of $68 .Arista Networks Inc was Downgraded by BofA/Merrill to ” Underperform” on Jun 27, 2016.
On the company’s financial health, Arista Networks Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.68. The company had revenue of $268.70 million for the quarter, compared to analysts expectations of $262.90 million. The company’s revenue was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.
Arista Networks Inc opened for trading at $78.81 and hit $79.88 on the upside on Monday, eventually ending the session at $79.77, with a gain of 0.99% or 0.78 points. The heightened volatility saw the trading volume jump to 6,95,664 shares. Company has a market cap of $5,524 M.
In a different news, on Aug 17, 2016, Mark Stephen Smith (Sr. VP, Worldwide Sales) sold 5,000 shares at $77.10 per share price. According to the SEC, on Aug 17, 2016, Anshul Sadana (SVP, Customer Engineering) sold 5,000 shares at $77.09 per share price. On Aug 10, 2016, Kenneth Duda (CTO and SVP Software Eng.) sold 13,938 shares at $72.20 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.