Nomura/Instinet Downgrades Arista Networks (ANET) to Neutral on Probable Challenges to Growth

Nomura/Instinet analyst Jeffrey Kvaal downgraded Arista Networks (NYSE: ANET) from Buy to Neutral with a price target of $230.00 (from $290.00).

The analyst comments "The low-single-digit webscale growth Arista has cited as part of cautious 2H19 guidance is likely an overly prudent figure in the long term. The company’s recovery, however, may be a protracted one. Arista faces difficult comps in 1H20 and possible webscale share loss in 2H20. Accelerating enterprise gains are a partial offset. Our new below-consensus estimates no longer support a mid-20s multiple."

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 $228.33 yesterday.

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