Analysts Set Arista Networks, Inc. (ANET) PT at $156.40
Arista Networks, Inc. (NYSE:ANET) has earned a consensus rating of “Buy” from the thirty-four research firms that are covering the company, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $157.16.
Several research firms recently commented on ANET. KeyCorp reaffirmed a “buy” rating and set a $176.00 price objective on shares of Arista Networks in a research report on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Arista Networks in a research report on Tuesday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 price objective on shares of Arista Networks in a research report on Tuesday, September 12th. Cowen and Company reaffirmed a “buy” rating and set a $168.00 price objective (up from $145.00) on shares of Arista Networks in a research report on Friday, August 4th. Finally, Argus reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th.
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Shares of Arista Networks (NYSE:ANET) traded up 0.041% during trading on Friday, hitting $182.755. 310,153 shares of the company were exchanged. The stock has a market capitalization of $13.26 billion, a PE ratio of 47.163 and a beta of 1.30. Arista Networks has a 1-year low of $78.82 and a 1-year high of $185.41. The company has a 50 day moving average of $170.19 and a 200-day moving average of $149.84.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The company had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. During the same period last year, the firm posted $0.74 earnings per share. Arista Networks’s revenue was up 50.8% compared to the same quarter last year. On average, analysts forecast that Arista Networks will post $4.70 earnings per share for the current year.
In related news, insider Jayshree Ullal sold 80,064 shares of Arista Networks stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $158.08, for a total transaction of $12,656,517.12. Following the sale, the insider now owns 2,576 shares of the company’s stock, valued at approximately $407,214.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $148.52, for a total value of $297,040.00. Following the sale, the senior vice president now directly owns 11,775 shares in the company, valued at approximately $1,748,823. The disclosure for this sale can be found here. Insiders have sold a total of 626,331 shares of company stock worth $104,898,551 in the last three months. 28.09% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ANET. PNC Financial Services Group Inc. raised its stake in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after purchasing an additional 126 shares during the period. LS Investment Advisors LLC bought a new stake in Arista Networks during the 2nd quarter valued at approximately $119,000. D.A. Davidson & CO. raised its stake in Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after purchasing an additional 30 shares during the period. SG Americas Securities LLC bought a new stake in Arista Networks during the 1st quarter valued at approximately $164,000. Finally, Daiwa Securities Group Inc. bought a new stake in Arista Networks during the 2nd quarter valued at approximately $202,000. 59.34% of the stock is currently owned by institutional investors.
About Arista Networks
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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