Shares of Arista Networks (NASDAQ:ANET) were little changed in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $1.41, which beat analysts’ consensus estimate of $1.21 per share. Sales increased by 55.3% year-over-year, with revenue hitting $1.28 billion. This beat analysts’ expectations of $1.2 billion.
Looking forward, management now expects revenue for Q1 2023 to be in the range of $1.275 billion to $1.325 billion. For reference, analysts were expecting $1.21 billion in revenue.
Overall, Wall Street has a consensus price target of $180.67 on Arista Networks, implying 32.85% upside potential, as indicated by the graphic above.