New Buy Rating for Arista Networks (ANET), the Technology Giant

Morgan Stanley analyst Meta Marshall maintained a Buy rating on Arista Networks (ANETResearch Report) today and set a price target of $345.00. The company’s shares closed last Monday at $299.00, close to its 52-week high of $326.60.

According to TipRanks.com, Marshall is a 4-star analyst with an average return of 19.4% and a 66.3% success rate. Marshall covers the Technology sector, focusing on stocks such as Zoom Video Communications, CommScope Holding, and Viavi Solutions.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arista Networks with a $350.24 average price target, implying a 13.9% upside from current levels. In a report issued on February 18, Rosenblatt Securities also maintained a Buy rating on the stock with a $385.00 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 $605 million and net profit of $168 million. In comparison, last year the company earned revenue of $654 million and had a net profit of $209 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(EOS) a set of network applications and Ethernet switching and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.