Arista Networks Inc. (ANET) PT Raised to $95.00 at RBC Capital Markets
Arista Networks Inc. (NYSE:ANET) had its price objective upped by analysts at RBC Capital Markets to $95.00 in a research note issued to investors on Monday. RBC Capital Markets’ price objective would indicate a potential upside of 0.23% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Deutsche Bank AG lifted their price objective on Arista Networks from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, September 14th. Credit Suisse Group AG reiterated a “buy” rating and set a $90.00 price objective on shares of Arista Networks in a research note on Wednesday, August 24th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price objective on shares of Arista Networks in a research note on Monday, August 8th. Oppenheimer Holdings Inc. set a $90.00 price objective on Arista Networks and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Argus assumed coverage on Arista Networks in a research report on Tuesday, October 25th. They set a “buy” rating and a $107.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight 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 stock has a consensus rating of “Buy” and an average price target of $90.14.
Shares of Arista Networks (NYSE:ANET) opened at 94.78 on Monday. The stock has a market capitalization of $6.65 billion, a P/E ratio of 40.99 and a beta of 1.12. Arista Networks has a 12 month low of $52.51 and a 12 month high of $94.94. The firm’s 50-day moving average price is $85.01 and its 200-day moving average price is $76.98.
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, beating the Zacks’ consensus estimate of $0.73 by $0.10. The business 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 company’s revenue was up 33.4% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. On average, equities research analysts forecast that Arista Networks will post $3.08 EPS for the current year.
In other Arista Networks news, VP Mark Stephen Smith sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $87.86, for a total value of $439,300.00. Following the completion of the transaction, the vice president now owns 1,620 shares in the company, valued at $142,333.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jayshree Ullal sold 105,847 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $79.85, for a total transaction of $8,451,882.95. The disclosure for this sale can be found here. 32.39% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado increased 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. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Arista Networks by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,305 shares of the company’s stock valued at $111,000 after buying an additional 167 shares during the period. D. Scott Neal Inc. acquired a new position in Arista Networks during the third quarter valued at approximately $128,000. Quantbot Technologies LP acquired a new position in Arista Networks during the second quarter valued at approximately $136,000. Finally, Seven Eight Capital LLC acquired a new position in Arista Networks during the first quarter valued at approximately $150,000. Institutional investors and hedge funds own 54.58% 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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