Arista Networks Inc. (NYSE:ANET) Given Consensus Rating of “Hold” by Brokerages
Shares of Arista Networks Inc. (NYSE:ANET) have been given a consensus rating of “Hold” by the twenty-eight brokerages that are covering the company. Four investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $80.27.
ANET has been the topic of several analyst reports. Credit Suisse Group AG reissued a “buy” rating and issued a $90.00 price objective on shares of Arista Networks in a research note on Wednesday, August 24th. Deutsche Bank AG reissued a “buy” rating on shares of Arista Networks in a research note on Sunday, June 26th. Needham & Company LLC reissued a “buy” rating on shares of Arista Networks in a research note on Sunday, June 26th. Zacks Investment Research cut shares of Arista Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Arista Networks in a research note on Wednesday, June 22nd.
Arista Networks (NYSE:ANET) traded up 1.47% during mid-day trading on Monday, hitting $86.39. The company’s stock had a trading volume of 668,385 shares. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 42.98 and a beta of 1.12. Arista Networks has a 52-week low of $52.51 and a 52-week high of $87.62. The firm has a 50 day moving average of $82.27 and a 200-day moving average of $72.00.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. Arista Networks had a net margin of 15.03% and a return on equity of 20.45%. The company had revenue of $268.70 million for the quarter, compared to analysts’ expectations of $262.98 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Arista Networks’s revenue for the quarter was up 37.4% on a year-over-year basis. On average, equities research analysts expect that Arista Networks will post $2.93 EPS for the current fiscal year.
In other Arista Networks news, VP Mark Stephen Smith sold 5,000 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $70.04, for a total value of $350,200.00. Following the sale, the vice president now directly owns 1,244 shares in the company, valued at approximately $87,129.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 13,938 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $72.20, for a total transaction of $1,006,323.60. The disclosure for this sale can be found here. 32.39% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in Arista Networks during the second quarter valued at $136,000. Seven Eight Capital LLC bought a new stake in Arista Networks during the first quarter valued at $150,000. Metropolitan Life Insurance Co. NY boosted its stake in Arista Networks by 16.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 2,933 shares of the company’s stock valued at $189,000 after buying an additional 406 shares during the period. Legal & General Group Plc boosted its stake in Arista Networks by 3.5% in the second quarter. Legal & General Group Plc now owns 3,111 shares of the company’s stock valued at $200,000 after buying an additional 105 shares during the period. Finally, Bank of Montreal Can bought a new stake in Arista Networks during the second quarter valued at $213,000. Institutional investors and hedge funds own 52.69% of the company’s stock.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.
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