In a report released yesterday, Ittai Kidron from Oppenheimer maintained a Buy rating on Arista Networks (NYSE: ANET), with a price target of $330. The company’s shares closed yesterday at $267.85.
Kidron commented:
“Arista delivered another solid quarter with in-line guidance. We are more focused on positive management commentary pointing toward the return of cloud customers as a notable positive now that the impact of the 945 investigation is behind the company. Additionally, Arista sustained strong enterprise (a large market in which Arista has minimal share) and international momentum (traction with cloud providers, tier 2 service providers, and enterprises). We believe investors will focus on incremental opportunities, such as campus entry, 400GbE adoption, and new cloud customers, and look at next week’s Investor Day as a catalyst for future upward estimate revisions that could provide better valuation support. Adjusting estimates for results/guidance while maintaining our $330 price target. Maintain Outperform.”
According to TipRanks.com, Kidron is a top 100 analyst with an average return of 19.9% and a 64.8% success rate. Kidron covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Juniper Networks, and Pure Storage Inc.
Arista Networks has an analyst consensus of Moderate Buy, with a price target consensus of $290.72.
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Arista Networks’ market cap is currently $19.74B and has a P/E ratio of 50.16. The company has a book value ratio of 11.8792.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock.
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Arista Networks, Inc. engages in the development, marketing, and sale of cloud networking solutions. It operates through the following geographical segments: United States; Other Americas; Europe, Middle East, and Africa; and Asia Pacific.
