Arista Networks, Inc. (ANET) Receives Outperform Rating from Wells Fargo & Company
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.
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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.
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