Arista Networks (NYSE:ANET) had its price target hoisted by Citigroup from $315.00 to $340.00 in a research note released on Friday. The firm currently has a buy rating on the technology company’s stock.

ANET has been the topic of a number of other research reports. Morgan Stanley increased their price target on Arista Networks from $210.00 to $260.00 and gave the stock an overweight rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded Arista Networks from a buy rating to a hold rating in a research report on Wednesday, February 7th. Loop Capital assumed coverage on Arista Networks in a research report on Monday, January 29th. They set a hold rating and a $250.00 price target on the stock. Goldman Sachs Group assumed coverage on Arista Networks in a research report on Wednesday, February 7th. They set a buy rating and a $320.00 price target on the stock. Finally, Needham & Company LLC increased their price target on Arista Networks from $300.00 to $315.00 and gave the stock a buy rating in a research report on Friday, February 16th. Fourteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $249.42.

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Shares of Arista Networks (NYSE ANET) opened at $295.15 on Friday. Arista Networks has a twelve month low of $123.36 and a twelve month high of $311.67. The firm has a market capitalization of $21,580.00, a price-to-earnings ratio of 49.44, a P/E/G ratio of 2.09 and a beta of 1.46. The company has a current ratio of 4.28, a quick ratio of 3.70 and a debt-to-equity ratio of 0.02.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $1.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.32. Arista Networks had a return on equity of 25.86% and a net margin of 25.71%. The company had revenue of $467.90 million for the quarter, compared to the consensus estimate of $463.82 million. During the same quarter in the prior year, the company posted $1.04 EPS. Arista Networks’s quarterly revenue was up 42.7% on a year-over-year basis. equities analysts forecast that Arista Networks will post 6.01 earnings per share for the current fiscal year.

In other news, Director Ann Mather sold 433 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $245.37, for a total value of $106,245.21. Following the completion of the transaction, the director now directly owns 5,833 shares in the company, valued at $1,431,243.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 800 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $248.24, for a total value of $198,592.00. Following the completion of the transaction, the chief executive officer now owns 6,613 shares of the company’s stock, valued at $1,641,611.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,203 shares of company stock valued at $52,290,318. Company insiders own 28.09% of the company’s stock.

Large investors have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA purchased a new position in shares of Arista Networks in the fourth quarter worth about $100,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Arista Networks by 164.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 484 shares of the technology company’s stock worth $114,000 after purchasing an additional 301 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new position in shares of Arista Networks in the third quarter worth about $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Arista Networks in the third quarter worth about $151,000. Finally, TRUE Private Wealth Advisors purchased a new position in shares of Arista Networks in the fourth quarter worth about $210,000. Hedge funds and other institutional investors own 56.36% 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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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