Arista Networks Inc (ANET) was Downgraded by MKM Partners to ” Neutral” while Lowering the Price Target of the company shares to $ 79 from a previous price target of $81 . Earlier the firm had a rating of “Buy ” on the company shares. MKM Partners advised their investors in a research report released on Sep 19, 2016.
Many Wall Street Analysts have commented on Arista Networks Inc. Company shares were Reiterated by Deutsche Bank on Sep 14, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .Company shares were Reiterated by RBC Capital Mkts on Aug 31, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 80 from a previous price target of $70 .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 .
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 $84.07 and hit $85.1 on the upside on Friday, eventually ending the session at $85.03, with a gain of 0.71% or 0.6 points. The heightened volatility saw the trading volume jump to 1,174,001 shares. Company has a market cap of $5,925 M.
In a different news, on Sep 12, 2016, Kenneth Duda (CTO and SVP Software Eng.) sold 12,296 shares at $81.34 per share price. According to the SEC, on Sep 6, 2016, Jayshree Ullal (President and CEO) sold 56,279 shares at $80.76 per share price. On Aug 17, 2016, Mark Stephen Smith (Sr. VP, Worldwide Sales) sold 5,000 shares at $77.10 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.