In a report released today, James Faucette from Morgan Stanley maintained a Hold rating on Arista Networks (ANET – Research Report), with a price target of $195.00. The company’s shares closed last Monday at $244.57.
According to TipRanks.com, Faucette is a 5-star analyst with an average return of 11.8% and a 77.4% success rate. Faucette covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Automatic Data Processing, and Q2 Holdings Inc.
Arista Networks has an analyst consensus of Moderate Buy, with a price target consensus of $216.67, representing a -11.4% downside. In a report released today, KeyBanc also downgraded the stock to Hold.
Based on Arista Networks’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $189 million. In comparison, last year the company had a net profit of $168 million.
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Arista Networks, Inc. engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System, a set of network applications; and Ethernet switching and routing platforms.