Arista Networks, Inc. Reports Third Quarter 2022 Financial Results
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Arista Networks (ANET) PT Raised to $160 at Rosenblatt
November 1, 2022 7:20 AM EDTRosenblatt analyst Mike Genovese raised the price target on Arista Networks (NYSE: ANET) to $160.00 (from $155.00) while maintaining a Buy rating.
The analyst commented, "Arista posted strong 3Q22 results with good 4Q22 guidance. Revenues of $1.18bn, up 57% y/y and 12% q/q, came in $126mn or 12% above our estimate. Half the upside was driven by better product shipments and half was driven by a reduction in deferred revenues as customer acceptance criteria on new products shipped in prior quarters were met. The 4Q22 revenue guidance of $1.175bn-$1.20bn does not include deferred revenue... More
