Brokerage firm MKM Partners Downgrades its rating on Arista Networks Inc(NYSE:ANET). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by MKM Partners was issued on Sep 19, 2016.
In a different note, On Sep 14, 2016, Deutsche Bank said it Maintains its rating on Arista Networks Inc. In the research note, the firm Raises the price-target to $80.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 26, 2016, Citigroup said it Maintains its rating on Arista Networks Inc. In the research note, the firm Raises the price-target to $62.00 per share. The shares have been rated ‘Neutral’ by the firm. BMO Capital said it Initiates Coverage on Arista Networks Inc, according to a research note issued on Aug 18, 2016. The shares have been rated ‘Outperform’ by the firm. 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 Thursdays trading session with the shares advancing 1.86% or 1.56 points. Due to strong positive momentum, the stock ended at $85.33, which is also near the day’s high of $85.59. The stock began the session at $84.4 and the volume stood at 7,11,001 shares. The 52-week high of the shares is $85.1 and the 52 week low is $52.505. The company has a current market capitalization of $5,946 M and it has 6,96,79,374 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 Sep 12, 2016, Kenneth Duda (CTO and SVP Software Eng.) sold 12,296 shares at $81.34 per share price.Also, On Sep 6, 2016, Jayshree Ullal (President and CEO) sold 56,279 shares at $80.76 per share price.On Aug 17, 2016, Mark Stephen Smith (Sr. VP, Worldwide Sales) sold 5,000 shares at $77.10 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.