Shares of Arista Networks, Inc. (NYSE:ANET) have been assigned an average rating of “Buy” from the thirty-three research firms that are covering the stock, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $156.73.

ANET has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 price target on shares of Arista Networks in a research report on Tuesday, May 2nd. Barclays PLC lifted their price target on Arista Networks from $148.00 to $159.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 2nd. Oppenheimer Holdings, Inc. set a $160.00 price target on Arista Networks and gave the stock a “buy” rating in a research report on Thursday, May 4th. Cowen and Company lifted their price target on Arista Networks from $123.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, BMO Capital Markets lifted their price target on Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th.

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In related news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $147.51, for a total transaction of $295,020.00. Following the completion of the transaction, the senior vice president now directly owns 11,775 shares in the company, valued at approximately $1,736,930.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel Scheinman sold 833 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $151.68, for a total value of $126,349.44. Following the transaction, the director now owns 52,500 shares of the company’s stock, valued at $7,963,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 685,696 shares of company stock valued at $113,607,458. 28.09% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. increased its position in shares of Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after buying an additional 30 shares during the period. First Personal Financial Services increased its position in shares of Arista Networks by 3.3% in the first quarter. First Personal Financial Services now owns 1,984 shares of the technology company’s stock worth $262,000 after buying an additional 63 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after buying an additional 126 shares during the period. M&T Bank Corp increased its position in shares of Arista Networks by 6.4% in the second quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock worth $347,000 after buying an additional 140 shares during the period. Finally, First United Bank Trust increased its position in shares of Arista Networks by 2.5% in the second quarter. First United Bank Trust now owns 6,510 shares of the technology company’s stock worth $975,000 after buying an additional 160 shares during the period. Institutional investors own 60.83% of the company’s stock.

Arista Networks (NYSE:ANET) traded down 0.79% on Tuesday, reaching $173.73. 418,394 shares of the company were exchanged. The company’s 50-day moving average price is $160.91 and its 200-day moving average price is $142.28. Arista Networks has a 12-month low of $77.82 and a 12-month high of $176.88. The stock has a market capitalization of $12.60 billion, a P/E ratio of 45.01 and a beta of 1.33.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The firm had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. During the same quarter in the previous year, the business posted $0.74 EPS. The company’s quarterly revenue was up 50.8% on a year-over-year basis. Equities research analysts anticipate that Arista Networks will post $4.69 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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