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Arista Networks (ANET) Receives a Buy from JMP Securities

JMP Securities analyst Erik Suppiger maintained a Buy rating on Arista Networks (ANETResearch Report) today and set a price target of $135.00. The company’s shares closed last Monday at $122.82.

According to TipRanks.com, Suppiger is a 5-star analyst with an average return of 22.9% and a 57.6% success rate. Suppiger covers the Technology sector, focusing on stocks such as CrowdStrike Holdings, Palo Alto Networks, and CyberArk Software.

Currently, the analyst consensus on Arista Networks is a Strong Buy with an average price target of $148.18, representing a 23.5% upside. In a report issued on February 11, Evercore ISI also maintained a Buy rating on the stock with a $160.00 price target.

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Based on Arista Networks’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $749 million and net profit of $224 million. In comparison, last year the company earned revenue of $605 million and had a net profit of $168 million.

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Incorporated in 2004, Arista Networks, Inc. is a computer networking company based in California. The company is engaged in the development, marketing, and sale of cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

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