Arista Networks Inc. (ANET) Earns Buy Rating from Guggenheim
A number of other research analysts have also recently weighed in on ANET. Citigroup Inc. restated a buy rating and set a $91.00 target price on shares of Arista Networks in a research note on Sunday. Oppenheimer Holdings Inc. set a $90.00 target price on shares of Arista Networks and gave the company a buy rating in a research note on Friday, August 5th. Pacific Crest reiterated an overweight rating and issued a $90.00 price target (down from $99.00) on shares of Arista Networks in a report on Friday, July 22nd. Jefferies Group reiterated a sell rating and issued a $40.25 price target on shares of Arista Networks in a report on Friday, August 5th. Finally, Wells Fargo & Co. reiterated a positive rating on shares of Arista Networks in a report on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $85.62.
Shares of Arista Networks (NYSE:ANET) opened at 85.40 on Monday. The firm’s 50-day moving average is $84.08 and its 200 day moving average is $75.39. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 36.94 and a beta of 1.12. Arista Networks has a 52-week low of $52.51 and a 52-week high of $87.62.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.10. The business had revenue of $290.26 million for the quarter, compared to analysts’ expectations of $283.33 million. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The company’s revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 EPS. Equities analysts expect that Arista Networks will post $3.04 EPS for the current year.
In related news, insider Jayshree Ullal sold 54,542 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $79.85, for a total transaction of $4,355,178.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Stephen Smith sold 11,150 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $82.52, for a total transaction of $920,098.00. Following the transaction, the vice president now owns 1,620 shares of the company’s stock, valued at approximately $133,682.40. The disclosure for this sale can be found here. 32.39% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ANET. Public Employees Retirement Association of Colorado raised its position in Arista Networks by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,257 shares of the company’s stock valued at $107,000 after buying an additional 5 shares during the period. D. Scott Neal Inc. purchased a new position in Arista Networks during the third quarter valued at approximately $128,000. Quantbot Technologies LP purchased a new position in Arista Networks during the second quarter valued at approximately $136,000. Seven Eight Capital LLC purchased a new position in Arista Networks during the first quarter valued at approximately $150,000. Finally, Metropolitan Life Insurance Co. NY raised its position 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. Hedge funds and other institutional investors own 52.69% of the company’s stock.
About Arista Networks
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.
Receive News & Stock Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related stocks with our FREE daily email newsletter.