Alert set for break above $280 resistance in Arista Networks.
Arista had a meteoric rise from the December lows with a 75% jump in the first quarter of 2019, and then a poor earnings report and guidance in May brought about a almighty selloff. Numerous downgrades followed and resulting in a major gap been filled in the chart. As of mid June buyers have returned and the stock has now hit a confluence of resistance at $280, we would suggest that a break above $280 should bring some rapid gains.
AVERAGE ANALYSTS PRICE TARGET $302
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 60
SHORT INTEREST 3.64%
COMPANY PROFILE
Arista Networks, Inc. engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System, a set of network applications; and Ethernet switching and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.
AVERAGE ANALYSTS PRICE TARGET $302
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 60
SHORT INTEREST 3.64%
COMPANY PROFILE
Arista Networks, Inc. engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System, a set of network applications; and Ethernet switching and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.