Record Earnings for Arista Driven by Strong Cloud Titan Spend; Raising FVE to $261
Arista reported record-setting earnings during its second quarter of fiscal 2018 and we are raising our fair value estimate to $261 per share from $251. The company outperformed second-quarter guidance with $520 billion in revenue and 36% non-GAAP operating margins. Revenue was driven by hyperscale cloud provider spending and operating margins exceeded due to fixed cost leverage. Management expects strong cloud titan spending in the back half of 2018 and guides long-term non-GAAP margins of 32-3...Arista Networks is engaged in providing cloud networking solutions, which consist of its Extensible Operating System (EOS), a set of network applications and its Ethernet switching and routing platforms. The programmability of EOS enable the company to create a set of software applications that address the requirements of cloud networking, including workflow automation, network visibility and analytics, and enable the company to integrate with third-party applications for virtualization, management, automation, orchestration and network services. EOS supports cloud and virtualization solutions, including VMware NSX, Microsoft System Center, OpenStack and other cloud management frameworks.
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