Arista Networks, Inc. (ANET) PT Raised to $185.00
Arista Networks, Inc. (NYSE:ANET) had its target price boosted by Barclays PLC from $161.00 to $185.00 in a report issued on Thursday. The firm presently has an “overweight” rating on the technology company’s stock. Barclays PLC’s target price points to a potential upside of 22.05% from the stock’s previous close.
Several other analysts have also recently issued reports on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Arista Networks from a “sell” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $125.00 in a research note on Monday, March 27th. Credit Suisse Group cut shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $140.00 target price on the stock. in a research note on Thursday, April 27th. They noted that the move was a valuation call. Citigroup Inc. increased their target price on shares of Arista Networks from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, March 24th. JMP Securities increased their target price on shares of Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $162.00 target price (up from $150.00) on shares of Arista Networks in a research note on Friday, May 5th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $134.30.
Shares of Arista Networks (NYSE ANET) opened at 151.58 on Thursday. The stock has a 50 day moving average of $147.05 and a 200-day moving average of $120.46. Arista Networks has a 52-week low of $60.51 and a 52-week high of $158.57. The firm has a market capitalization of $10.91 billion, a P/E ratio of 48.96 and a beta of 1.35.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. Arista Networks had a net margin of 18.95% and a return on equity of 20.94%. The business had revenue of $335.48 million for the quarter, compared to analysts’ expectations of $326.19 million. During the same period in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 38.5% compared to the same quarter last year. Equities analysts expect that Arista Networks will post $3.95 earnings per share for the current fiscal year.
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In other Arista Networks news, insider Jayshree Ullal sold 18,021 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $157.44, for a total value of $2,837,226.24. Following the sale, the insider now owns 2,576 shares of the company’s stock, valued at approximately $405,565.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel Scheinman sold 833 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $151.68, for a total transaction of $126,349.44. Following the completion of the sale, the director now directly owns 52,500 shares in the company, valued at approximately $7,963,200. The disclosure for this sale can be found here. In the last three months, insiders sold 395,901 shares of company stock worth $58,241,211. Insiders own 32.39% of the company’s stock.
Large investors have recently made changes to their positions in the company. Flinton Capital Management LLC purchased a new stake in shares of Arista Networks during the fourth quarter worth about $153,000. SG Americas Securities LLC purchased a new stake in shares of Arista Networks during the first quarter worth about $164,000. Financial Architects Inc raised its stake in shares of Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock worth $166,000 after buying an additional 877 shares during the period. Pittenger & Anderson Inc. raised its stake in shares of Arista Networks by 255.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 1,935 shares of the technology company’s stock worth $187,000 after buying an additional 1,390 shares during the period. Finally, Comerica Bank purchased a new stake in shares of Arista Networks during the fourth quarter worth about $205,000. 60.68% of the stock is currently owned by institutional investors and hedge funds.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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