Shares of Arista Networks Inc (NYSE:ANET) rallied in early trading on Friday, after the company reported upbeat fourth-quarter results.
Here are the key analyst insights:
- JPMorgan analyst Samik Chatterjee maintained an Overweight rating, while raising the price target from $175 to $190.
- KeyBanc Capital Markets analyst Brandon Nispel reiterated an Overweight rating, while lifting the price target from $170 to $178.
- Needham analyst Ryan Koontz reaffirmed a Buy rating, while raising the price target from $165 to $185.
- Rosenblatt Securities analyst Mike Genovese maintained a Neutral rating and price target of $165.
Check out other analyst stock ratings.
JPMorgan: Arista Networks reported revenue of $2,488 million, gross margins of 63.4% and earnings of 82 cents per share, topping consensus estimates of $2,386 million, 62.5%, and 75 cents per share, respectively, Chatterjee said in a note. The company raised its full-year revenue growth guidance to 25%, from its prior outlook of 20%, reflecting “the momentum in its leverage to the AI investment cycle,” he added.
The guidance raise was earlier in the year than “the typical timing of raises in its history, highlighting higher-than-typical confidence in demand and deployments,” the analyst wrote. Arista …