Arista Networks Inc. (NYSE:ANET) reached a new 52-week high during trading on Monday after Pacific Crest raised their price target on the stock from $94.00 to $100.00. Pacific Crest currently has an overweight rating on the stock. Arista Networks traded as high as $93.71 and last traded at $93.85, with a volume of 1,430,301 shares trading hands. The stock had previously closed at $87.98.

Several other equities research analysts have also commented on ANET. Deutsche Bank AG set a $80.00 target price on Arista Networks and gave the company a “buy” rating in a research report on Saturday, August 6th. BMO Capital Markets restated a “buy” rating and set a $93.00 target price on shares of Arista Networks in a research report on Friday, November 4th. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Arista Networks in a research report on Monday, November 7th. RBC Capital Markets restated a “sector perform” rating and set a $85.00 target price on shares of Arista Networks in a research report on Monday, November 7th. Finally, Wells Fargo & Co. restated an “outperform” rating and set a $100.00 target price on shares of Arista Networks in a research report on Monday, November 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and an average target price of $90.14.

In other news, VP Mark Stephen Smith sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was 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 directly owns 1,620 shares of the company’s stock, valued at $142,333.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jayshree Ullal sold 386,291 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $87.97, for a total value of $33,982,019.27. The disclosure for this sale can be found here. 32.39% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Scout Investments Inc. bought a new position in Arista Networks during the third quarter worth approximately $22,366,000. Price T Rowe Associates Inc. MD raised its position in 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 worth $4,931,000 after buying an additional 17,211 shares during the last quarter. LPL Financial LLC raised its position in Arista Networks by 16.6% in the third quarter. LPL Financial LLC now owns 4,618 shares of the company’s stock worth $394,000 after buying an additional 656 shares during the last quarter. Credit Suisse AG raised its position in Arista Networks by 154.7% in the third quarter. Credit Suisse AG now owns 57,974 shares of the company’s stock worth $4,933,000 after buying an additional 35,211 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new position in Arista Networks during the third quarter worth approximately $30,091,000. 54.58% of the stock is owned by hedge funds and other institutional investors.

The company has a 50-day moving average price of $85.01 and a 200-day moving average price of $76.98. The company has a market capitalization of $6.65 billion, a PE ratio of 40.99 and a beta of 1.12.

Arista Networks (NYSE:ANET) last announced 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. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The company earned $290.26 million during the quarter, compared to analyst estimates of $283.33 million. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, equities research analysts anticipate that Arista Networks Inc. will post $3.08 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Arista Networks Inc. (ANET) Reaches New 52-Week High After Analyst Upgrade” was first published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this piece on another site, it was illegally copied and reposted in violation of US & international copyright law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2016/11/23/arista-networks-inc-anet-reaches-new-52-week-high-after-analyst-upgrade.html.

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

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.