The stock of Arista Networks Inc (NYSE:ANET) hit a new 52-week high and has $125.74 target or 44.00% above today’s $87.32 share price. The 5 months bullish chart indicates low risk for the $6.06B company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $125.74 price target is reached, the company will be worth $2.67 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 130,368 shares traded hands. Arista Networks Inc (NYSE:ANET) has risen 32.20% since March 7, 2016 and is uptrending. It has outperformed by 24.61% the S&P500.
Analysts await Arista Networks Inc (NYSE:ANET) to report earnings on November, 3. They expect $0.59 EPS, up 22.92% or $0.11 from last year’s $0.48 per share. ANET’s profit will be $40.95 million for 37.00 P/E if the $0.59 EPS becomes a reality. After $0.60 actual EPS reported by Arista Networks Inc for the previous quarter, Wall Street now forecasts -1.67% negative EPS growth.
Arista Networks Inc (NYSE:ANET) Ratings Coverage
Out of 17 analysts covering Arista Networks (NYSE:ANET), 8 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 47% are positive. $105 is the highest target while $21 is the lowest. The $82.13 average target is -5.94% below today’s ($87.32) stock price. Arista Networks has been the topic of 27 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained Arista Networks Inc (NYSE:ANET) rating on Friday, November 6. Deutsche Bank has “Buy” rating and $90 price target. The firm earned “Overweight” rating on Wednesday, October 14 by Barclays Capital. Citigroup initiated it with “Buy” rating and $21 target price in Wednesday, January 27 report. UBS maintained Arista Networks Inc (NYSE:ANET) rating on Friday, August 5. UBS has “Neutral” rating and $72 price target. The firm earned “Underperform” rating on Monday, June 27 by Bank of America. The rating was upgraded by Oppenheimer to “Outperform” on Monday, January 4. BMO Capital Markets initiated the stock with “Outperform” rating in Thursday, August 18 report. M Partners downgraded the stock to “Neutral” rating in Monday, September 19 report. The stock of Arista Networks Inc (NYSE:ANET) has “Sector Perform” rating given on Friday, May 6 by RBC Capital Markets. Citigroup maintained it with “Neutral” rating and $65 target price in Friday, August 26 report.
According to Zacks Investment Research, “Arista Networks, Inc. is engaged in providing cloud networking solutions for datacentre and cloud computing environments. It offers ethernet switches, pass-through cards, transceivers, cards, and enhanced operating systems, host adapter solutions and networking services. The Company serves a range of industries, including Internet companies, service providers, financial services organizations, government agencies, and media and entertainment companies. Arista Networks, Inc. is headquartered in Santa Clara, California.”
More recent Arista Networks Inc (NYSE:ANET) news were published by: Businesswire.com which released: “Arista Networks, Inc. Reports Second Quarter 2016 Financial Results” on August 04, 2016. Also Fool.com published the news titled: “Why Arista Networks Inc. Stock Plunged Today” on March 14, 2016. Fool.com‘s news article titled: “Why Arista Networks Inc. Stock Popped Today” with publication date: February 19, 2016 was also an interesting one.
ANET Company Profile
Arista Networks, Inc., incorporated on December 2, 2011, is a supplier of cloud networking solutions that address the needs of 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), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches. At the core of its cloud networking platform is EOS, which is purpose-built to be programmable and modular. The programmability of EOS allows it to create a set of software applications that address the requirements of cloud networking, including workflow automation, network visibility and analytics, and allows it to integrate with a range of third-party applications for virtualization, management, automation, orchestration and network services. EOS supports cloud and virtualization solutions, including VMware NSX, Microsoft System Center, OpenStack and other cloud management frameworks. The Firm offers a product line of data center 10/25/40/50/100 Gigabit Ethernet switches comprising its 7050X Series, 7060X Series, 7150 Series, 7260 Series, 7280 leaf switches, 7300X Series Spline switches and its 7500E Series spine switches.
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