Analysts Set Arista Networks, Inc. (NYSE:ANET) Target Price at $156.40

Arista Networks, Inc. (NYSE:ANETGet Rating) has been given a consensus rating of “Moderate Buy” by the twenty-three analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $156.40.

A number of research analysts have weighed in on the company. Barclays upgraded Arista Networks from an “equal weight” rating to an “overweight” rating and set a $131.00 price target for the company in a research note on Wednesday. StockNews.com upgraded Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 17th. Credit Suisse Group raised their price target on Arista Networks from $178.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Bank of America downgraded Arista Networks from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $140.00 to $105.00 in a research note on Wednesday, July 20th. Finally, JPMorgan Chase & Co. lifted their target price on Arista Networks from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 2nd.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $112.55 on Friday. The business’s 50 day simple moving average is $118.70 and its 200 day simple moving average is $114.63. Arista Networks has a 52-week low of $85.18 and a 52-week high of $148.57. The firm has a market cap of $34.25 billion, a PE ratio of 34.71, a P/E/G ratio of 1.74 and a beta of 1.33.

Arista Networks (NYSE:ANETGet Rating) last announced its earnings results on Monday, August 1st. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $979.66 million. Arista Networks had a return on equity of 24.03% and a net margin of 29.55%. Arista Networks’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities research analysts predict that Arista Networks will post 3.53 EPS for the current year.

Insider Activity at Arista Networks

In related news, SVP Marc Taxay sold 1,040 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $93.14, for a total transaction of $96,865.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider John F. Mccool sold 996 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $93.14, for a total transaction of $92,767.44. Following the transaction, the insider now directly owns 166 shares of the company’s stock, valued at approximately $15,461.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 1,040 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $93.14, for a total value of $96,865.60. The disclosure for this sale can be found here. Insiders have sold a total of 268,229 shares of company stock worth $32,746,091 in the last 90 days. Corporate insiders own 19.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Asset Dedication LLC purchased a new stake in shares of Arista Networks in the first quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in shares of Arista Networks in the first quarter worth approximately $26,000. Addison Advisors LLC purchased a new stake in shares of Arista Networks in the first quarter worth approximately $28,000. Rise Advisors LLC purchased a new stake in shares of Arista Networks in the fourth quarter worth approximately $31,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Arista Networks in the first quarter worth approximately $32,000. 63.82% of the stock is owned by institutional investors and hedge funds.

Arista Networks Company Profile

(Get Rating)

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.

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