UBS Maintains Arista Networks Inc to Neutral with Price Target $72.00

Brokerage firm UBS Maintains its rating on Arista Networks Inc(NYSE:ANET). In a research note issued to the investors, the brokerage major Raises the price-target to $72.00 per share. The shares have been rated Neutral. The rating by UBS was issued on Aug 5, 2016.

In a different note, JP Morgan said it Initiates Coverage on Arista Networks Inc, according to a research note issued on May 13, 2016. The shares have been rated ‘Neutral’ by the firm.

Arista Networks Inc (ANET) shares turned negative on Wednesdays trading session with the shares closing down -0.26 points or -0.34% at a volume of 6,51,999. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $77.84. The peak price level was also seen at $77.84 while the days lowest was $76.71. Finally the shares closed at $77.34. The 52-week high of the shares is $82.57 while the 52-week low is $52.505. According to the latest information available, the market cap of the company is $5,355 M.

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 Jul 19, 2016, Mark Stephen Smith (Sr. VP, Worldwide Sales) sold 5,000 shares at $70.04 per share price.Also, On Jul 12, 2016, Kenneth Duda (CTO and SVP Software Eng.) sold 15,150 shares at $67.42 per share price.On Jun 7, 2016, Anshul Sadana (SVP, Customer Engineering) sold 5,000 shares at $75.00 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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