Today’s Stock On Watch: Is Buying Arista Networks Inc Here a Winning Strategy?

Today's Stock On Watch: Is Buying Arista Networks Inc Here a Winning Strategy?

The stock of Arista Networks Inc (NYSE:ANET) hit a new 52-week high and has $99.55 target or 5.00% above today’s $94.81 share price. The 8 months bullish chart indicates low risk for the $6.62 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $99.55 price target is reached, the company will be worth $331.00M 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 177,861 shares traded hands. Arista Networks Inc (NYSE:ANET) has risen 43.62% since April 25, 2016 and is uptrending. It has outperformed by 37.61% the S&P500.

Analysts await Arista Networks Inc (NYSE:ANET) to report earnings on February, 16. They expect $0.67 earnings per share, down 1.47% or $0.01 from last year’s $0.68 per share. ANET’s profit will be $46.78 million for 35.38 P/E if the $0.67 EPS becomes a reality. After $0.69 actual earnings per share reported by Arista Networks Inc for the previous quarter, Wall Street now forecasts -2.90% negative EPS growth.

Arista Networks Inc (NYSE:ANET) Ratings Coverage

Out of 20 analysts covering Arista Networks (NYSE:ANET), 11 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 55% are positive. $110 is the highest target while $21 is the lowest. The $84.78 average target is -10.58% below today’s ($94.81) stock price. Arista Networks has been the topic of 31 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Macquarie Research downgraded it to “Neutral” rating and $90 target price in Tuesday, August 4 report. The rating was maintained by UBS with “Neutral” on Friday, August 5. The firm earned “Buy” rating on Friday, November 6 by M Partners. The stock of Arista Networks Inc (NYSE:ANET) earned “Neutral” rating by M Partners on Monday, September 19. The stock of Arista Networks Inc (NYSE:ANET) has “Underperform” rating given on Monday, June 27 by Bank of America. JP Morgan initiated Arista Networks Inc (NYSE:ANET) on Wednesday, January 6 with “Neutral” rating. The stock of Arista Networks Inc (NYSE:ANET) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, August 31. The stock of Arista Networks Inc (NYSE:ANET) earned “Buy” rating by Deutsche Bank on Wednesday, September 14. As per Wednesday, January 27, the company rating was initiated by Citigroup. The firm earned “Sell” rating on Monday, November 2 by Goldman Sachs.

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 important recent Arista Networks Inc (NYSE:ANET) news were published by: Finance.Yahoo.com which released: “Arista Networks Inc (ANET) President and CEO Jayshree Ullal Sold $34 million …” on November 17, 2016, also Fool.com published article titled: “Why Arista Networks Inc. Stock Plunged Today”, Nasdaq.com published: “Arista Networks Inc (ANET) President and CEO Jayshree Ullal Sold $’4 million …” on November 17, 2016. More interesting news about Arista Networks Inc (NYSE:ANET) was released by: Businesswire.com and their article: “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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