Arista Networks Inc logo

ANET - Arista Networks Inc News Story

$279.84 -0.4  -0.1%

Last Trade - 26/02/21

Sector
Technology
Size
Large Cap
Market Cap £15.33bn
Enterprise Value £13.27bn
Revenue £1.66bn
Position in Universe 545th / 6715

BUZZ-Arista Networks: Rosenblatt sees "steady growth" heading into 2021; upgrades

Thu 7th January, 2021 12:57pm
** Shares of the cloud infrastructure supplier  ANET.N  up
2.4% at $292.65 premarket after Rosenblatt Securities upgrades
to "buy" from "neutral"
    ** Analyst Ryan Koontz sees co resuming "steady growth"
heading into 2021 driven by easier comparables and an improved
outlook in its cloud hyperscale sector
    ** "Increasing dominance of hyperscale cloud infrastructure
in the global digital economy gives us confidence in steady
hyperscale capex growth in FY 2021 and likely beyond" - Koontz
   ** Brokerage expects ANET to resume double-digit y-o-y growth
for at least next several quarters
    ** Believes gross/operating margins to remain steady and
strong with fewer threats in FY 2021
    ** Brokerage also raises PT to $335 from $260; Median PT of
$281.50
    ** Average rating among 28 analysts covering ANET is "buy" -
Refinitiv Eikon Data
    
    

 (Reporting by Aniruddha Chakrabarty)
 ((aniruddha.c.thomsonreuters.com@reuters.net))
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