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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.