Oppenheimer analyst Ittai Kidron maintained a Hold rating on Arista Networks (ANET) yesterday. The company’s shares closed last Monday at $216.12.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 36.1% and a 73.1% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Citrix Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arista Networks with a $240.75 average price target, which is a 14.6% upside from current levels. In a report issued on October 19, Rosenblatt Securities also maintained a Hold rating on the stock with a $250.00 price target.
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Based on Arista Networks’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $541 million and net profit of $145 million. In comparison, last year the company earned revenue of $608 million and had a net profit of $189 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. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.
