Arista Networks Inc. (NYSE:ANET) had its price objective increased by equities research analysts at BMO Capital Markets to $110.00 in a note issued to investors on Monday. The firm presently has a “positive” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 16.06% from the stock’s previous close.

A number of other research firms have also weighed in on ANET. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Arista Networks in a research note on Friday, November 18th. Oppenheimer Holdings Inc. set a $90.00 price objective on Arista Networks and gave the stock a “buy” rating in a research note on Monday. RBC Capital Markets upped their price objective on Arista Networks to $95.00 in a research note on Monday. Zacks Investment Research raised Arista Networks from a “hold” rating to a “strong-buy” rating and set a $99.00 price objective for the company in a research note on Tuesday, November 8th. Finally, Needham & Company LLC upped 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $90.14.

Analyst Recommendations for Arista Networks (NYSE:ANET)

Shares of Arista Networks (NYSE:ANET) opened at 94.78 on Monday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 40.99 and a beta of 1.12. The stock has a 50 day moving average price of $85.01 and a 200-day moving average price of $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 released its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The firm earned $290.26 million during the quarter, compared to analyst estimates of $283.33 million. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. Analysts expect that Arista Networks will post $3.08 earnings per share for the current fiscal year.

In other news, SVP Kenneth Duda sold 12,296 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $81.34, for a total value of $1,000,156.64. Following the completion of the sale, the senior vice president now owns 420 shares of the company’s stock, valued at approximately $34,162.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jayshree Ullal sold 105,847 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was 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. Company insiders own 32.39% of the company’s stock.

Several hedge funds have recently bought and sold shares of ANET. Public Employees Retirement Association of Colorado boosted its stake 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 worth $107,000 after buying an additional 5 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Arista Networks by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,305 shares of the company’s stock worth $111,000 after buying an additional 167 shares during the last quarter. D. Scott Neal Inc. acquired a new stake in Arista Networks during the third quarter worth $128,000. The Manufacturers Life Insurance Company acquired a new stake in Arista Networks during the third quarter worth $166,000. Finally, Quantbot Technologies LP acquired a new stake in Arista Networks during the second quarter worth $136,000. 54.58% of the stock is owned by hedge funds and other institutional investors.

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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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