Arista Networks Inc (ANET) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Nov 22, 2016.
Many Wall Street Analysts have commented on Arista Networks Inc. Stifel Resumed Arista Networks Inc on Nov 18, 2016 to “Buy”, Price Target of the shares are set at $102.Company shares were Reiterated by Needham on Oct 31, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $105 .Arista Networks Inc was Initiated by Argus to “Buy” on Oct 25, 2016.
On the company’s financial health, Arista Networks Inc reported $0.83 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.73. The company had revenue of $290.26 million for the quarter, compared to analysts expectations of $283.33 million. The company’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.
Arista Networks Inc closed down -0.06 points or -0.07% at $87.98 with 5,37,018 shares getting traded on Monday. Post opening the session at $88.53, the shares hit an intraday low of $87.82 and an intraday high of $89.36 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Nov 17, 2016, Jayshree Ullal (President and CEO) sold 47,045 shares at $88.01 per share price. According to the SEC, on Nov 16, 2016, Mark Stephen Smith (Sr. VP, Worldwide Sales) sold 5,000 shares at $87.40 per share price. On Nov 16, 2016, Anshul Sadana (Chief Customer Officer) sold 15,000 shares at $88.00 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.