BMO Capital Initiates Coverage on Arista Networks Inc to Outperform

BMO Capital Initiates Coverage on Arista Networks Inc(NYSE:ANET). The shares have been rated Outperform. The rating by BMO Capital was issued on Aug 18, 2016.

In a different note, On Aug 5, 2016, UBS said it Maintains its rating on Arista Networks Inc. In the research note, the firm Raises the price-target to $68.00 per share. The shares have been rated ‘Neutral’ by the firm.

Arista Networks Inc (ANET) made into the market gainers list on Mondays trading session with the shares advancing 0.99% or 0.78 points. Due to strong positive momentum, the stock ended at $79.77, which is also near the day’s high of $79.88. The stock began the session at $78.81 and the volume stood at 6,95,664 shares. The 52-week high of the shares is $79.7 and the 52 week low is $52.505. The company has a current market capitalization of $5,524 M and it has 6,92,43,826 shares in outstanding.

Arista Networks Inc(ANET) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $268.74M. Analysts had an estimated revenue of $262.88M. Earnings per share were $0.74. Analysts had estimated an EPS of $0.68.

Several Insider Transactions has been reported to the SEC. On Aug 17, 2016, Mark Stephen Smith (Sr. VP, Worldwide Sales) sold 5,000 shares at $77.10 per share price.Also, On Aug 17, 2016, Anshul Sadana (SVP, Customer Engineering) sold 5,000 shares at $77.09 per share price.On Aug 10, 2016, Kenneth Duda (CTO and SVP Software Eng.) sold 13,938 shares at $72.20 per share price, according to the Form-4 filing with the securities and exchange commission.

Arista Networks Inc. is a supplier of cloud networking solutions that use software to address the needs 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) a set of network applications and its 10/40/100 Gigabit Ethernet switches. The Company offers range of product lines of data center 10/40/100 Gigabit Ethernet switches in the industry which consist of its 7050 Series and 7150 Series top-of-rack switches 72XX/7300 X Series SPLINE switches and its 7280 and 7500 E Series spine switches. EOS supports cloud and virtualization solutions including VMware NSX Microsoft System Center OpenStack and other cloud management frameworks. The Company also offers EOS+ a software platform for network programmability and automation.

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