Wall Street analysts forecast that Arista Networks Inc (NYSE:ANET) will post $2.13 earnings per share for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Arista Networks’ earnings, with the lowest EPS estimate coming in at $1.99 and the highest estimate coming in at $2.69. Arista Networks posted earnings of $2.25 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.3%. The business is scheduled to announce its next earnings report on Thursday, February 13th.

According to Zacks, analysts expect that Arista Networks will report full-year earnings of $9.54 per share for the current financial year, with EPS estimates ranging from $9.44 to $9.61. For the next fiscal year, analysts forecast that the business will report earnings of $8.98 per share, with EPS estimates ranging from $7.84 to $9.80. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Arista Networks.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.50. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The firm had revenue of $654.40 million during the quarter, compared to analysts’ expectations of $653.26 million. During the same period in the prior year, the company earned $2.11 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis.

A number of brokerages have weighed in on ANET. Nomura decreased their price target on Arista Networks from $230.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, November 1st. ValuEngine raised shares of Arista Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $210.00 price target on shares of Arista Networks in a research report on Wednesday, November 13th. Morgan Stanley dropped their target price on shares of Arista Networks from $275.00 to $195.00 and set a “weight” rating on the stock in a research report on Friday, November 1st. Finally, Credit Suisse Group cut shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $144.00 target price on the stock. in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $226.12.

NYSE ANET traded up $2.26 on Friday, reaching $195.28. The company had a trading volume of 327,377 shares, compared to its average volume of 1,452,310. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 1.47 and a beta of 1.60. Arista Networks has a fifty-two week low of $173.31 and a fifty-two week high of $331.27. The business has a 50 day moving average of $221.66 and a two-hundred day moving average of $243.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.91 and a quick ratio of 5.47.

In other news, Director Nikos Theodosopoulos sold 1,360 shares of Arista Networks stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $225.31, for a total value of $306,421.60. Following the transaction, the director now owns 4,630 shares of the company’s stock, valued at approximately $1,043,185.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 10,874 shares of Arista Networks stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $234.82, for a total transaction of $2,553,432.68. Following the completion of the transaction, the senior vice president now directly owns 2,979 shares in the company, valued at approximately $699,528.78. The disclosure for this sale can be found here. Insiders have sold a total of 39,984 shares of company stock valued at $8,699,464 in the last quarter. 23.83% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Gradient Investments LLC acquired a new position in Arista Networks during the second quarter worth $37,000. Strategic Blueprint LLC acquired a new stake in shares of Arista Networks during the third quarter worth about $35,000. Meeder Asset Management Inc. lifted its position in shares of Arista Networks by 1,281.8% during the third quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock worth $36,000 after purchasing an additional 141 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Arista Networks during the second quarter worth about $41,000. Finally, Financial Management Professionals Inc. raised its holdings in Arista Networks by 548.0% in the second quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock valued at $42,000 after acquiring an additional 137 shares in the last quarter. 60.34% of the stock is currently owned by institutional investors and hedge funds.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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