In a report released today, Alex Henderson from Needham maintained a Hold rating on Arista Networks (ANET). The company’s shares closed last Monday at $168.20, close to its 52-week low of $156.89.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 8.6% and a 44.4% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and Ceragon Networks.
Currently, the analyst consensus on Arista Networks is a Moderate Buy with an average price target of $213.83, representing a 32.9% upside. In a report issued on March 4, J.P. Morgan also upgraded the stock to Hold with a $182.00 price target.
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Based on Arista Networks’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $261 million. In comparison, last year the company had a net profit of $170 million.
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Arista Networks, Inc. engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System(EOS) a set of network applications and Ethernet switching and routing platforms.
