Needham & Company Pounds the Table on Arista Networks (ANET)

Needham & Company analyst Alex Henderson is out pounding the table on Arista Networks (NYSE: ANET) Tuesday. The analyst "strongly" reiterated a Buy rating and price target of $95 after spending three days with the company on a Midwest NDR.

Henderson commented, "We are robustly bullish on ANET. We spent 3 days with ANET on a Midwest NDR. We can only describe our experience of the trip as a strong reminder of the exceptional power that we see in the ANET story and the exceptional quality that we see in its management team. We strongly believe ANET is going to be a major company reaching multiple billions in Revenues with Operating Margins rivaling Cisco in the mid-20’s and a business model that is building exceptionally strong scale and defensibility. We do not see any impediments to stop ANET from reaching 20-40% market share in its target market from just under 10% currently. We believe ANET is one of the rare "buy and hold" names in the Networking space. We strongly reiterate our Buy and $95 PT. We believe that over time these shares will have substantial upside."

For an analyst ratings summary and ratings history on Arista Networks click here. For more ratings news on Arista Networks click here.

Shares of Arista Networks closed at $71.53 yesterday.

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