Arista Networks (ANET) PT, Estimates Lifted at Needham & Company on 'Beat and Raise'

Needham & Company analyst Alex Henderson reiterated a Buy rating and boosted his price target on Arista Networks (NASDAQ: ANET) from $90 to $95 following another ‘beat and raise’ quarter.

Henderson commented, “Arista crushed estimates and guidance. Revenues came in 7.2% above forecast at $155.5MM versus our $126MM and the Street's $128MM. Further, revenues increased a sparkling 53.2% year-over-year and 12.7% Q-Q. EPS was even more impressive. ANET delivered a $0.40 EPS in the quarter versus the Street estimates at $0.28. Management's revenue guide and EPS were solidly above Street estimates. We calibrate the guide at $0.34-0.40 per share versus the Street's $0.29 for the CY4Q period.”

The firm raised CY 14 Revenues to $576MM from $550MM, CY14 EPS to $1.35 from $1.02, CY15 revenues a more moderate amount to $754MM from $706MM, CY15 EPS to $1.51 from $1.10, and CY16 estimates to $1.82 from $1.43.

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 $87.25 yesterday.

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