These Analysts Boost Price Targets On Arista Networks Following Upbeat Q4 Results

Arista Networks, Inc. ANET reported upbeat results for its fourth quarter and issued strong Q1 sales forecast.

Arista Networks posted quarterly earnings of $1.41 per share, topping market estimates of $1.21 per share. The company’s quarterly sales came in at $1.28 billion, versus expectations of $1.20 billion.

Arista Networks said it sees Q1 revenue of $1.275 billion to $1.325 billion, versus estimates of $1.21 billion.

Arista Networks shares rose 2.1% to close at $136.00 on Monday and added 1.3% in today’s pre-market trading.

These analysts made changes to their price targets on Arista Networks after the company released quarterly results.

• JMP Securities raised the price target on Arista from $135 to $165. JMP Securities analyst Erik Suppiger maintained a Market Outperform rating on the stock.
• Barclays boosted Arista price target from $165 to $177. Barclays analyst Tim Long maintained an Overweight rating on the stock.
• Needham raised the price target on the stock from $155 to $165. Needham analyst Alex Henderson maintained the stock with a Buy rating.
• Credit Suisse boosted Arista price target from $140 to $146. Credit Suisse analyst Sami Badri maintained the stock with a Neutral.
• Cowen & Co. raised Arista price target from $212 to $225. Cowen & Co. analyst Paul Silverstein maintained the stock with an Outperform.
• Wells Fargo boosted the price target on the stock from $160 to $170. Wells Fargo analyst Aaron Rakers maintained the stock with an Overweight.
• Loop Capital boosted the price target on the stock from $181 to $188. Loop Capital analyst Fahad Najam maintained the stock with a Buy.
• Morgan Stanley boosted the price target on the stock from $130 to $140. Morgan Stanley analyst Meta Marshall maintained the stock with an Equal-Weight.

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