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Arista Networks Inc - Stock Quote ANET

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Morningstar's Arista Networks Inc Stock Analysis

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Arista Posts Resounding Growth in Q1 Amid Deteriorating Supply Chain Environment; Maintain $105 FVE

Mark Cash Senior Equity Analyst

Analyst Note

| Mark Cash |

We are maintaining our $105 fair value estimate for narrow-moat Arista Networks after its first-quarter results exceeded our expectations for revenue growth and adjusted earnings. Shares were flat after Arista reported, which we attribute to a strong second-quarter growth target being offset by supply chain and increased costs concerns. We view shares as slightly overvalued due to being cautious regarding Arista's ability to durably migrate less sophisticated customers to its solutions against incumbents with deep rooted channel presences. Nonetheless, we still expect Arista to be a top vendor for networking needs in leading-edge data center operations and for its solutions to remain mission critical for sizable operators.

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Arista Networks Inc's Company Profile

Business Description

Arista Networks is a software and hardware provider for the networking solutions sector. Operating as one business unit, software, switching, and router products are targeted for high-performance networking applications, while service revenue comes from technical support. Customer markets include data centers, enterprises, service providers, and campuses. The company is headquartered in Santa Clara, California, and generates most of its revenue in the Americas. It also sells into Europe, the Middle East, Africa, and Asia-Pacific.

5453 Great America Parkway
Santa Clara, CA, 95054
T +1 408 547-5500
Sector Technology
Industry Computer Hardware
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 2,993