Citigroup Inc. set a $105.00 price target on Arista Networks Inc. (NYSE:ANET) in a report issued on Tuesday. The firm currently has a buy rating on the stock.

A number of other analysts also recently commented on ANET. Oppenheimer Holdings Inc. set a $90.00 price objective on Arista Networks and gave the stock a buy rating in a research report on Friday, August 5th. JPMorgan Chase & Co. reiterated a hold rating and issued a $67.00 price objective on shares of Arista Networks in a research report on Friday, August 5th. Jefferies Group reiterated a sell rating and issued a $40.25 price objective on shares of Arista Networks in a research report on Friday, August 5th. Deutsche Bank AG set a $80.00 price objective on Arista Networks and gave the stock a buy rating in a research report on Saturday, August 6th. Finally, Needham & Company LLC reiterated a buy rating and issued a $105.00 price objective on shares of Arista Networks in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Arista Networks currently has an average rating of Buy and an average target price of $90.14.

Analyst Recommendations for Arista Networks (NYSE:ANET)

Arista Networks (NYSE:ANET) opened at 94.78 on Tuesday. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 40.99 and a beta of 1.12. The firm’s 50-day moving average price is $85.01 and its 200-day moving average price is $76.98. Arista Networks has a 12 month low of $52.51 and a 12 month high of $94.94.

Arista Networks (NYSE:ANET) last announced 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 company earned $290.26 million during the quarter, compared to the consensus estimate of $283.33 million. During the same quarter last year, the company earned $0.59 EPS. The company’s quarterly revenue was up 33.4% on a year-over-year basis. Equities research analysts predict that Arista Networks will post $3.08 earnings per share for the current year.

In other news, insider Jayshree Ullal sold 54,542 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Stephen Smith sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $87.86, for a total transaction of $439,300.00. Following the transaction, the vice president now owns 1,620 shares of the company’s stock, valued at $142,333.20. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Scout Investments Inc. bought a new position in shares of Arista Networks during the third quarter valued at about $22,366,000. Price T Rowe Associates Inc. MD increased its position in shares of Arista Networks by 42.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 57,952 shares of the company’s stock valued at $4,931,000 after buying an additional 17,211 shares during the period. LPL Financial LLC increased its position in shares of Arista Networks by 16.6% in the third quarter. LPL Financial LLC now owns 4,618 shares of the company’s stock valued at $394,000 after buying an additional 656 shares during the period. Credit Suisse AG increased its position in shares of Arista Networks by 154.7% in the third quarter. Credit Suisse AG now owns 57,974 shares of the company’s stock valued at $4,933,000 after buying an additional 35,211 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in shares of Arista Networks during the third quarter valued at about $30,091,000. Institutional investors own 54.58% of the company’s stock.

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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.

5 Day Chart for NYSE:ANET

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