Arista Networks Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | May 07, 2024 09:52am

Arista Networks, Inc. (NYSE:ANET) is expected to release earnings results for its first quarter, after the closing bell on May 7.

Analysts expect the Santa Clara, California-based company to report quarterly earnings at $1.75 per share, up from $1.43 per share in the year-ago quarter. Arista Networks is projected to report quarterly revenue of $1.55 billion, compared to $1.31 billion in the year-earlier quarter, according to data from Benzinga Pro.

On Feb. 12, Arista said fourth-quarter revenue increased 20.8% year-over-year to $1.54 billion, which beat the consensus estimate of $1.53 billion. The company reported quarterly earnings of $2.08 per share, which beat analyst estimates of $1.70 per share.

Arista shares rose 1.6% to close at $278.82 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings . Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Jefferies analyst George Notter upgraded the stock from Hold to Buy and raised the price target from $240 to $320 on May 3. This analyst has an accuracy rate of 73%.
• JP Morgan analyst Samik Chatterjee maintained an Overweight rating and increased the price target from $297 to $315 on April 11. This analyst has an accuracy rate of 69%.
• Goldman Sachs analyst Michael Ng maintained a Buy rating and boosted the price target from $313 to $356 on March 22. This analyst has an accuracy rate of 64%.
• Barclays analyst Tim Long maintained an Overweight rating and increased the price target from $272 to $311 on Feb. 13. This analyst has an accuracy rate of 74%.
• Wells Fargo analyst Aaron Rakers maintained an Overweight rating and increased the price target from $225 to $310 on Feb. 7. This analyst has an accuracy rate of 84%.

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Posted In: ANET