Arista Networks (NYSE:ANET) issued its quarterly earnings results on Monday. The technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.12, MarketWatch Earnings reports. Arista Networks had a net margin of 32.06% and a return on equity of 20.37%. The business had revenue of $667.56 million for the quarter, compared to analysts’ expectations of $642.57 million. During the same period last year, the business earned $2.02 earnings per share. The business’s quarterly revenue was up 27.6% on a year-over-year basis.
NYSE ANET opened at $316.74 on Thursday. Arista Networks has a 12 month low of $192.96 and a 12 month high of $326.60. The firm has a market capitalization of $24.16 billion, a PE ratio of 35.47, a P/E/G ratio of 3.91 and a beta of 1.21. The company’s 50 day simple moving average is $307.85 and its 200 day simple moving average is $288.19.
A number of research firms have recently weighed in on ANET. JPMorgan Chase & Co. increased their price objective on Arista Networks from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 19th. Credit Suisse Group raised their price target on Arista Networks from $359.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays raised their price target on Arista Networks from $294.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 25th. Morgan Stanley increased their price objective on Arista Networks from $320.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Finally, KeyCorp raised their target price on Arista Networks from $365.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $320.77.
About Arista Networks
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.
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