The stock of Arista Networks Inc (NYSE:ANET) hit a new 52-week high and has $147.31 target or 59.00% above today’s $92.65 share price. The 7 months bullish chart indicates low risk for the $6.50B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $147.31 price target is reached, the company will be worth $3.84B 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 558,652 shares traded hands. Arista Networks Inc (NYSE:ANET) has risen 39.54% since April 19, 2016 and is uptrending. It has outperformed by 35.68% the S&P500.
Arista Networks Inc (NYSE:ANET) Ratings Coverage
Out of 20 analysts covering Arista Networks (NYSE:ANET), 11 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 55% are positive. $110 is the highest target while $21 is the lowest. The $84.78 average target is -8.49% below today’s ($92.65) stock price. Arista Networks has been the topic of 30 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of Arista Networks Inc (NYSE:ANET) has “Buy” rating given on Wednesday, January 27 by Citigroup. The rating was initiated by Argus Research with “Buy” on Tuesday, October 25. On Tuesday, August 4 the stock rating was downgraded by Macquarie Research to “Neutral”. JP Morgan initiated Arista Networks Inc (NYSE:ANET) rating on Friday, May 13. JP Morgan has “Neutral” rating and $67 price target. The company was initiated on Thursday, August 18 by BMO Capital Markets. The rating was maintained by Deutsche Bank on Friday, November 6 with “Buy”. UBS maintained Arista Networks Inc (NYSE:ANET) on Friday, August 5 with “Neutral” rating. Needham maintained Arista Networks Inc (NYSE:ANET) on Monday, October 31 with “Buy” rating. JP Morgan initiated the stock with “Neutral” rating in Wednesday, January 6 report. The firm has “Buy” rating given on Friday, November 18 by Stifel Nicolaus.
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 notable recent Arista Networks Inc (NYSE:ANET) news were published by: Nasdaq.com which released: “Arista Networks Inc (ANET) President and CEO Jayshree Ullal Sold $’4 million …” on November 17, 2016, also Fool.com with their article: “Why Arista Networks Inc. Stock Plunged Today” published on March 14, 2016, Fool.com published: “Why Arista Networks Inc. Stock Popped Today” on February 19, 2016. More interesting news about Arista Networks Inc (NYSE:ANET) were released by: Seekingalpha.com and their article: “Arista Networks: Litigation Is A Compliment” published on November 14, 2016 as well as Businesswire.com‘s news article titled: “Arista Networks, Inc. Reports Second Quarter 2016 Financial Results” with publication date: August 04, 2016.
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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