Arista Networks, Inc. a net reported upbeat results for its fourth quarter and issued a 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.
Shares of Arista Networks closed up 2.1% at $136.00 on Monday and added 1.3% in today’s pre-market trading.
These analysts revised their price targets on Arista Networks after the company released its quarterly results.
- JMP Securities Raised the price target on Arista to $165 from $135. JMP Securities analyst Eric Sapiger maintained a Market Outperform rating on the stock.
- barclays Arista raised the price target to $177 from $165. 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 Arista raised the price target to $146 from $140. Credit Suisse analyst Sami Badri maintained neutral on the stock.
- Cowen & Company Arista raised the price target to $225 from $212. Cowen & Company analyst Paul Silverstein maintained the stock with Outperform.
- Wells Fargo Raised the price target on the stock from $160 to $170. Wells Fargo analyst Aaron Rackers maintains the stock with an overweight rating.
- loop capital Raised the price target on the stock from $181 to $188. Loop Capital analyst Fahad Najam maintained the stock with buy.
- Morgan Stanley Raised the price target on the stock from $130 to $140. Morgan Stanley analyst Meta Marshall maintains the stock with equal-weight.
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