Arista Networks Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Arista Networks, Inc. ANET is expected to release earnings results for its first quarter, after the closing bell on May 7.

Analysts expect the Santa Clara, California-based company to report quarterly earnings at $1.75 per share, up from $1.43 per share in the year-ago quarter. Arista Networks is projected to report quarterly revenue of $1.55 billion, compared to $1.31 billion in the year-earlier quarter, according to data from Benzinga Pro.

On Feb. 12, Arista said fourth-quarter revenue increased 20.8% year-over-year to $1.54 billion, which beat the consensus estimate of $1.53 billion. The company reported quarterly earnings of $2.08 per share, which beat analyst estimates of $1.70 per share.

Arista shares rose 1.6% to close at $278.82 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings . Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Jefferies analyst George Notter upgraded the stock from Hold to Buy and raised the price target from $240 to $320 on May 3. This analyst has an accuracy rate of 73%.
• JP Morgan analyst Samik Chatterjee maintained an Overweight rating and increased the price target from $297 to $315 on April 11. This analyst has an accuracy rate of 69%.
• Goldman Sachs analyst Michael Ng maintained a Buy rating and boosted the price target from $313 to $356 on March 22. This analyst has an accuracy rate of 64%.
• Barclays analyst Tim Long maintained an Overweight rating and increased the price target from $272 to $311 on Feb. 13. This analyst has an accuracy rate of 74%.
• Wells Fargo analyst Aaron Rakers maintained an Overweight rating and increased the price target from $225 to $310 on Feb. 7. This analyst has an accuracy rate of 84%.

Read This Next: Top 2 Risk Off Stocks That May Plunge In Q2