Analysts' Weigh in on Arista Networks Following Q4 Results
TipRanks | Feb 22, 2015 08:42AM ET
Shares of Arista Networks (NYSE:ANET) jumped 5% in after-hours trading on Thursday, February 19th after the company beat analysts’ expectations for the fourth quarter of 2014 and forecasted higher revenue for the current quarter.
Highlights from the report include GAAP earnings of $0.43 per share, exceeding analysts’ estimates of $0.32 and increasing 87% year-over-year. The company also beat analysts’ revenue consensus of $166.77 million, posting a total of $173.51 million in revenue and marking a 51% increase from the same quarter a year prior. Revenue for the full fiscal year of 2014 came in at $584.1 million, representing a 61.7% year-over-year increase.
Jayshree Ullal, Arista President and CEO , stated “We are pleased with our annual revenue growth in 2014 of 61.7% over 2013, with broad customer momentum across our key verticals…Our pioneering innovations in EOS+, in combination with our flagship 7000 series spine and spline models have made cloud networking transition a reality.”
Arista Networks has forecasted revenue for the first quarter of 2015 to range between $164-172 million, while analysts expect $165.95 million. Analysts also expect the company to post earnings of $34 per share.
Arista Network’s stellar fourth quarter came as a surprise to analysts and investors alike who believed the company’s legal expenses from its lawsuit with Cisco Systems (NASDAQ:CSCO.O) would take a toll on its profits. In December 2014, Cisco Systems announced plans to file two lawsuits against Arista Networks for copyright infringement and violating 14 patents. Cisco claimed that Arista even egregiously plagiarized user manuals, down to the last grammatical error.
A handful of analysts’ weighed in on Arista Networks on February 19th following the company’s Q4 results with ratings all across the board.
Credit Suisse analyst
Overall, Simon Leopold has a 67% success rate recommending stocks and a +9.4% average return per recommendation.
On average, the top analysts’ consensus for Arista Networks on TipRanks is Hold.
To see more recommendations for Arista Networks, visit TipRanks today!
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.