Wells Fargo & Company reiterated their outperform rating on shares of Arista Networks, Inc. (NYSE:ANET) in a report released on Tuesday morning.

Several other equities analysts also recently commented on the company. Argus assumed coverage on Arista Networks in a research report on Tuesday, October 25th. They issued a buy rating and a $107.00 price objective on the stock. Pacific Crest reiterated a buy rating on shares of Arista Networks in a report on Friday, November 4th. Zacks Investment Research cut Arista Networks from a hold rating to a sell rating in a report on Tuesday, October 4th. Stifel Nicolaus reiterated a buy rating and issued a $102.00 target price on shares of Arista Networks in a report on Friday, November 18th. Finally, BMO Capital Markets upped their price objective on Arista Networks from $93.00 to $110.00 and gave the stock a positive rating in a research note on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $95.75.

Arista Networks (NYSE:ANET) traded down 0.95% during mid-day trading on Tuesday, hitting $99.47. The stock had a trading volume of 504,147 shares. The stock’s 50-day moving average price is $96.66 and its 200-day moving average price is $82.99. Arista Networks has a 12 month low of $52.51 and a 12 month high of $103.00. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 43.02 and a beta of 1.18.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share (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 business had revenue of $290.26 million for the quarter, compared to the consensus estimate of $283.33 million. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s revenue was up 33.4% compared to the same quarter last year. On average, analysts predict that Arista Networks will post $3.09 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/01/11/arista-networks-inc-anet-receives-outperform-rating-from-wells-fargo-company.html.

In other news, VP Mark Stephen Smith sold 11,150 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $82.52, for a total transaction of $920,098.00. Following the completion of the sale, the vice president now owns 1,620 shares in the company, valued at approximately $133,682.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jayshree Ullal sold 386,291 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $87.97, for a total transaction of $33,982,019.27. The disclosure for this sale can be found here. Corporate insiders own 32.39% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB raised its position in Arista Networks by 251.8% in the second quarter. Nordea Investment Management AB now owns 8,173 shares of the company’s stock worth $526,000 after buying an additional 5,850 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Arista Networks during the second quarter valued at approximately $441,000. IBM Retirement Fund raised its position in Arista Networks by 15.6% in the second quarter. IBM Retirement Fund now owns 3,939 shares of the company’s stock valued at $254,000 after buying an additional 531 shares in the last quarter. Smith Asset Management Group LP purchased a new position in Arista Networks during the second quarter valued at approximately $1,124,000. Finally, American Century Companies Inc. purchased a new position in Arista Networks during the second quarter valued at approximately $8,844,000. Institutional investors own 56.35% 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.

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.