Arista Networks Inc (ANET) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.74 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.68. The company posted revenue of $268.70 million in the period, 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.
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.
Arista Networks Inc closed down -1.93 points or -2.68% at $70.19 with 7,28,237 shares getting traded on Tusday. Post opening the session at $72, the shares hit an intraday low of $69.95 and an intraday high of $72 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
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.