Arista Networks (ANET) Receives “Buy” Rating from Deutsche Bank
Deutsche Bank reissued their buy rating on shares of Arista Networks (NYSE:ANET) in a research report released on Friday morning. The brokerage currently has a $250.00 price objective on the technology company’s stock.
ANET has been the subject of several other research reports. JMP Securities upped their target price on shares of Arista Networks from $185.00 to $230.00 and gave the stock a market perform rating in a research report on Thursday, October 26th. BMO Capital Markets upped their target price on shares of Arista Networks from $190.00 to $205.00 and gave the stock a market perform rating in a research report on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub upgraded shares of Arista Networks from a hold rating to a buy rating in a research report on Saturday, September 23rd. Royal Bank Of Canada upgraded shares of Arista Networks from a sector perform rating to an outperform rating in a research report on Wednesday, November 8th. Finally, Cowen restated a buy rating and issued a $200.00 target price on shares of Arista Networks in a research report on Friday, November 3rd. Sixteen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $192.55.
Shares of Arista Networks (NYSE:ANET) traded down $4.47 during trading hours on Friday, hitting $228.65. 1,138,572 shares of the company were exchanged, compared to its average volume of 927,059. Arista Networks has a twelve month low of $87.33 and a twelve month high of $245.65. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $17,041.22, a P/E ratio of 56.04, a PEG ratio of 2.12 and a beta of 1.38.
Several large investors have recently modified their holdings of ANET. BlackRock Inc. lifted its position in shares of Arista Networks by 41.1% in the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock valued at $356,048,000 after acquiring an additional 692,651 shares in the last quarter. Koch Industries Inc. acquired a new position in Arista Networks in the 2nd quarter valued at approximately $592,000. State Street Corp increased its stake in Arista Networks by 44.7% in the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock valued at $159,278,000 after buying an additional 328,534 shares during the period. Vanguard Group Inc. increased its stake in Arista Networks by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock valued at $563,810,000 after buying an additional 249,753 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Arista Networks by 167.8% in the 3rd quarter. Janus Henderson Group PLC now owns 371,915 shares of the technology company’s stock valued at $70,519,000 after buying an additional 233,039 shares during the period. Institutional investors and hedge funds own 58.04% of the company’s stock.
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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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