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.
