Arista Networks Inc. (ANET) Earns Underperform Rating from Jefferies Group
Jefferies Group reissued their underperform rating on shares of Arista Networks Inc. (NYSE:ANET) in a report issued on Monday. The brokerage currently has a $50.00 price objective on the stock, up from their previous price objective of $40.25.
A number of other research firms have also commented on ANET. Needham & Company LLC raised their price objective on Arista Networks from $105.00 to $110.00 and gave the stock a buy rating in a research note on Monday, October 31st. Zacks Investment Research lowered Arista Networks from a hold rating to a sell rating in a research note on Tuesday, October 4th. MKM Partners lowered Arista Networks from a buy rating to a neutral rating and lowered their price objective for the stock from $81.00 to $79.00 in a research note on Monday, September 19th. Wells Fargo & Co. reiterated a positive rating on shares of Arista Networks in a research note on Thursday, October 6th. Finally, Argus assumed coverage on Arista Networks in a research note on Tuesday, October 25th. They issued a buy rating and a $107.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $85.62.
Arista Networks (NYSE:ANET) opened at 85.40 on Monday. Arista Networks has a 52 week low of $52.51 and a 52 week high of $87.62. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 36.94 and a beta of 1.12. The stock’s 50 day moving average price is $84.08 and its 200 day moving average price is $75.39.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.10. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The firm had revenue of $290.26 million for the quarter, compared to analyst estimates of $283.33 million. During the same quarter last year, the company earned $0.59 EPS. The company’s revenue was up 33.4% on a year-over-year basis. On average, equities research analysts predict that Arista Networks will post $3.04 EPS for the current year.
In related news, SVP Kenneth Duda sold 11,746 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $86.53, for a total value of $1,016,381.38. Following the completion of the sale, the senior vice president now directly owns 420 shares of the company’s stock, valued at approximately $36,342.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jayshree Ullal sold 105,847 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $79.85, for a total value of $8,451,882.95. The disclosure for this sale can be found here. 32.39% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ANET. Public Employees Retirement Association of Colorado raised its stake in shares of 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 worth $107,000 after buying an additional 5 shares in the last quarter. D. Scott Neal Inc. bought a new stake in shares of Arista Networks during the third quarter worth approximately $128,000. Quantbot Technologies LP bought a new stake in shares of Arista Networks during the second quarter worth approximately $136,000. Seven Eight Capital LLC bought a new stake in shares of Arista Networks during the first quarter worth approximately $150,000. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of Arista Networks during the third quarter worth approximately $211,000. 52.69% of the stock is owned by institutional investors and hedge funds.
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.
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.