Analysts predict that Arista Networks Inc (NYSE:ANET) will announce sales of $361.04 million for the current quarter, according to Zacks. Nine analysts have made estimates for Arista Networks’ earnings, with the highest sales estimate coming in at $364.02 million and the lowest estimate coming in at $358.00 million. Arista Networks reported sales of $268.74 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.3%. The firm is scheduled to report its next quarterly earnings report on Thursday, August 3rd.

According to Zacks, analysts expect that Arista Networks will report full year sales of $361.04 million for the current year, with estimates ranging from $1.39 billion to $1.51 billion. For the next year, analysts forecast that the business will report sales of $1.74 billion per share, with estimates ranging from $1.63 billion to $1.86 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Arista Networks.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.09. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The business had revenue of $335.48 million during the quarter, compared to analyst estimates of $326.19 million. During the same period in the prior year, the company earned $0.68 earnings per share. Arista Networks’s revenue was up 38.5% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on ANET shares. Barclays PLC reissued a “buy” rating and set a $161.00 price objective on shares of Arista Networks in a research report on Monday, May 15th. BMO Capital Markets boosted their price objective on shares of Arista Networks from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. CIBC reissued a “buy” rating and set a $160.00 price objective on shares of Arista Networks in a research report on Monday, May 15th. Cowen and Company boosted their price objective on shares of Arista Networks from $123.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Finally, JMP Securities boosted their price objective on shares of Arista Networks from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $130.41.

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In related news, Director Daniel Scheinman sold 833 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $151.68, for a total transaction of $126,349.44. Following the completion of the transaction, the director now owns 52,500 shares of the company’s stock, valued at $7,963,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $131.65, for a total transaction of $263,300.00. Following the transaction, the senior vice president now directly owns 10,650 shares of the company’s stock, valued at approximately $1,402,072.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 388,340 shares of company stock valued at $56,486,801. Corporate insiders own 32.39% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Trexquant Investment LP purchased a new stake in Arista Networks during the fourth quarter valued at approximately $1,207,000. Comerica Bank purchased a new stake in Arista Networks during the fourth quarter valued at approximately $205,000. Artemis Investment Management LLP raised its stake in Arista Networks by 39.3% in the fourth quarter. Artemis Investment Management LLP now owns 75,200 shares of the technology company’s stock valued at $7,279,000 after buying an additional 21,200 shares in the last quarter. Scout Investments Inc. purchased a new stake in Arista Networks during the third quarter valued at approximately $22,366,000. Finally, Swiss National Bank raised its stake in Arista Networks by 0.9% in the first quarter. Swiss National Bank now owns 75,200 shares of the technology company’s stock valued at $9,947,000 after buying an additional 700 shares in the last quarter. 54.94% of the stock is owned by hedge funds and other institutional investors.

Arista Networks (NYSE ANET) traded up 2.52% during trading on Wednesday, hitting $152.26. The stock had a trading volume of 1,281,191 shares. The company has a 50-day moving average price of $142.61 and a 200-day moving average price of $116.22. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 49.18 and a beta of 1.15. Arista Networks has a 52-week low of $60.51 and a 52-week high of $152.54.

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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