Arista Networks (ANET) Top Line Should Benefit From Strong Industry Growth - Needham

October 31, 2016 6:19 AM EDT
Get Alerts ANET Hot Sheet
Price: $88.23 -12.01%

Rating Summary:
    21 Buy, 12 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Needham & Company analyst, Alex Henderson, reiterated his Buy rating on shares of Arista Networks (NYSE: ANET) and raised his price target to $110 from $105 after recent prints from AWS and Microsoft suggest Web 2.0 cloud revenues will be strong for the company.

The analyst believes the strong growth from AWS and Azure suggest robust demand for Arista gear in the Web 2.0 space. This should lead to a strong revenue growth quarter with rising revenue estimates. Gross margin is more difficult to call due to mix and the Cisco suite work around measures, but the analyst thinks investors are smart enough to focus on the top line until the patent issues are resolved.

For an analyst ratings summary and ratings history on Arista Networks click here. For more ratings news on Arista Networks click here.

Shares of Arista Networks closed at $85.10 yesterday.

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