New Buy Rating for Arista Networks (ANET), the Technology Giant
In a report released yesterday, Mike Ng from Goldman Sachs maintained a Buy rating on Arista Networks (ANET – Research Report), with a price target of $115.00.
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Ng covers the Technology sector, focusing on stocks such as Apple, Super Micro Computer, and Arista Networks. According to TipRanks, Ng has an average return of 8.7% and a 49.78% success rate on recommended stocks.
In addition to Goldman Sachs, Arista Networks also received a Buy from J.P. Morgan's Samik Chatterjee in a report issued yesterday. However, on the same day, Piper Sandler reiterated a Hold rating on Arista Networks (NYSE: ANET).
Based on Arista Networks' latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.93 billion and a net profit of $801 million. In comparison, last year the company earned a revenue of $1.54 billion and had a net profit of $613.64 million
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