Goldman Sachs Starts Arista Networks (ANET) at Neutral

Goldman Sachs initiated coverage on Arista Networks (NYSE: ANET) with a Neutral rating and a price target of $69.00.

Analyst Simona Jankowski said, "We see Arista as a share-taker in the fast-growing data center switching market, which drives our estimate of 28% revenue CAGR in 2014-16. However, with Arista already above its target operating model, we expect modestly negative operating leverage and share dilution to drive a 14% EPS CAGR. Our analysis shows that ANET’s valuation is already giving it credit for expanding its market share in switching from 2.6% to 13% by 2020, which no other vendor (other than Cisco with 65% share) has achieved."

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 $67.90 yesterday.

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