Arista Networks Analysts Raise Their Forecasts After Stronger-Than-Expected Q2 Results

Arista Networks Inc ANET reported better-than-expected second-quarter financial results after the market close on Tuesday.

The company's quarterly revenue came in at $2.21 billion, versus estimates of $2.11 billion. Adjusted EPS came in at 73 cents, versus estimates of 65 cents.

"Arista is well-positioned in data-driven AI networking, from client to cloud," said Jayshree Ullal, chair and CEO of Arista Networks. "Our customers are decisively standardizing on our best of breed platform to bring transformational innovation and impact to their technology endeavors."

Arista Networks expects third-quarter revenue of approximately $2.25 billion versus estimates of $2.09 billion, according to Benzinga Pro.

Arista Networks shares fell 1.9% to close at $118.12 on Tuesday.

These analysts made changes to their price targets on Arista Networks following earnings announcement.

• Needham analyst Ryan Koontz maintained Arista Networks with a Buy and raised the price target from $130 to $155.
• Evercore ISI Group analyst Amit Daryanani maintained the stock with an Outperform rating and raised the price target from $120 to $150.

Considering buying ANET stock? Here’s what analysts think:

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