Arista Networks Inc (ANET) was Reiterated by UBS to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 72 from a previous price target of $68 . UBS advised their investors in a research report released on Aug 5, 2016.
Many Wall Street Analysts have commented on Arista Networks Inc. Arista Networks Inc was Downgraded by BofA/Merrill to ” Underperform” on Jun 27, 2016. Arista Networks Inc was Initiated by JP Morgan to “Neutral” on May 13, 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 $71 and hit $72.31 on the upside on Thursday, eventually ending the session at $71.99, with a gain of 0.97% or 0.69 points. The heightened volatility saw the trading volume jump to 8,05,126 shares. Company has a market cap of $4,941 M.
In a different news, on Jul 19, 2016, Mark Stephen Smith (Sr. VP, Worldwide Sales) sold 5,000 shares at $70.04 per share price. According to the SEC, on Jul 12, 2016, Kenneth Duda (CTO and SVP Software Eng.) sold 15,150 shares at $67.42 per share price. On Jun 7, 2016, Anshul Sadana (SVP, Customer Engineering) sold 5,000 shares at $75.00 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.