BMO Capital Believes ANET Won’t Stop HereBy Austin Angelo
In a report released yesterday, Tim Long from BMO Capital reiterated a Buy rating on Arista Networks (NYSE: ANET), with a price target of $110. The company’s shares closed yesterday at $94.81, close to its 52-week high of $96.84.
According to TipRanks.com, Long is a 4-star analyst with an average return of 4.5% and a 56.7% success rate. Long covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Hewlett Packard Enterprise, and Riverbed Technology.
Currently, the analyst consensus on Arista Networks is Moderate Buy and the average price target is $93.65, representing a -1.2% downside.
In a report issued on November 18, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $102 price target.
Arista Networks’ market cap is currently $6.7B and has a P/E ratio of 41.22. The company has a book value ratio of 6.5742.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2016, 2010 David R Cheriton Irrevocable Trust Dtd July 2, a Major Shareholder at ANET sold 221,367 shares for a total of $15,947,279.
Arista Networks, Inc. supplies cloud networking solutions that use software innovations to address the needs of large-scale Internet companies, cloud service providers and next-generation data centers for enterprises. The company cloud networking solutions consist of extensible operating system, a set of network applications and 10/40/100 Gigabit Ethernet switches. Its cloud networking solutions deliver industry-leading performance, scalability, availability, programmability, automation and visibility. Arista Networks was founded by Andreas Bechtolsheim, David Cheriton and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.