Deutsche Bank AG reiterated their buy rating on shares of Arista Networks Inc. (NYSE:ANET) in a research note issued to investors on Monday. They currently have a $85.00 price target on the stock, down from their prior price target of $105.00.

A number of other equities research analysts have also recently issued reports on ANET. Oppenheimer Holdings Inc. set a $90.00 price target on shares of Arista Networks and gave the company a buy rating in a report on Friday, August 5th. JPMorgan Chase & Co. restated a hold rating and set a $67.00 price target on shares of Arista Networks in a report on Friday, August 5th. Jefferies Group reaffirmed a sell rating and set a $40.25 price objective on shares of Arista Networks in a research report on Friday, August 5th. Needham & Company LLC reaffirmed a buy rating and set a $105.00 price objective on shares of Arista Networks in a research report on Monday, August 8th. Finally, BMO Capital Markets started coverage on shares of Arista Networks in a research report on Thursday, August 18th. They set an outperform rating and a $90.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks has an average rating of Buy and an average price target of $90.14.

Arista Networks (NYSE:ANET) opened at 95.97 on Monday. Arista Networks has a 12 month low of $52.51 and a 12 month high of $96.06. The stock’s 50 day moving average price is $85.87 and its 200 day moving average price is $77.68. The firm has a market capitalization of $6.74 billion, a P/E ratio of 41.51 and a beta of 1.12.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $283.33 million. During the same period in the prior year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, analysts forecast that Arista Networks will post $3.08 earnings per share for the current year.

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In other Arista Networks news, insider Jayshree Ullal sold 54,542 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $79.85, for a total value of $4,355,178.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 12,296 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $81.34, for a total transaction of $1,000,156.64. Following the completion of the sale, the senior vice president now directly owns 420 shares of the company’s stock, valued at approximately $34,162.80. The disclosure for this sale can be found here. Corporate insiders own 32.39% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ANET. Geode Capital Management LLC increased its stake in Arista Networks by 13.1% in the first quarter. Geode Capital Management LLC now owns 232,489 shares of the company’s stock worth $14,669,000 after buying an additional 26,949 shares in the last quarter. Renaissance Technologies LLC increased its stake in Arista Networks by 150.6% in the first quarter. Renaissance Technologies LLC now owns 194,700 shares of the company’s stock worth $12,286,000 after buying an additional 117,000 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Arista Networks by 1.9% in the first quarter. Panagora Asset Management Inc. now owns 55,104 shares of the company’s stock worth $3,477,000 after buying an additional 1,040 shares in the last quarter. Babson Capital Management LLC acquired a new stake in Arista Networks during the first quarter worth about $972,000. Finally, Seven Eight Capital LLC acquired a new stake in Arista Networks during the first quarter worth about $150,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Arista Networks

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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