Arista Networks Initiated with a Buy at Credit Suisse


In a report released yesterday, Sami Badri from Credit Suisse initiated coverage with a Buy rating on Arista Networks (NYSE: ANET) and a price target of $303. The company’s shares closed yesterday at $259.42.

Badri noted:

“We initiate coverage of Arista Networks (ANET) with an Outperform rating and a $303 target price, implying upside potential of ~16.9% from current levels. In coordination with our sector launch, “Cloud Proliferate,” we identify ANET as a leading cloud equipment provider and a major beneficiary of hyperscale cloud deployments into data centers.”

According to TipRanks.com, Badri is a 1-star analyst with an average return of -3.0% and a 29.2% success rate. Badri covers the Consumer Goods sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and CommScope Holding.

Currently, the analyst consensus on Arista Networks is Moderate Buy and the average price target is $284.06, representing a 9.5% upside.

In a report issued on May 3, Oppenheimer also assigned a Buy rating to the stock with a $330 price target.

See today’s analyst top recommended stocks >>

Arista Networks’ market cap is currently $19.28B and has a P/E ratio of 42.81. The company has a Price to Book ratio of 10.45.

Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts