Arista Networks, Inc. (NYSE:ANET) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Arista Networks, Inc. (NYSE:ANET) have earned an average rating of “Moderate Buy” from the twenty-three brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $163.5625.

ANET has been the topic of a number of recent research reports. UBS Group reaffirmed a “buy” rating and set a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. The Goldman Sachs Group upped their target price on shares of Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Wells Fargo & Company increased their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Citigroup boosted their price objective on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Needham & Company LLC raised their price objective on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th.

Arista Networks Trading Up 2.0%

Shares of Arista Networks stock opened at $133.63 on Monday. The firm has a market cap of $168.27 billion, a PE ratio of 50.81, a PEG ratio of 2.20 and a beta of 1.41. The stock has a 50 day moving average of $133.33 and a 200 day moving average of $130.27. Arista Networks has a 12 month low of $59.43 and a 12 month high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company’s revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 EPS. As a group, equities research analysts forecast that Arista Networks will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares in the company, valued at $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total transaction of $3,202,160.00. Following the transaction, the insider owned 532,400 shares in the company, valued at $65,570,384. This trade represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 208,464 shares of company stock worth $27,418,668. 3.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Arista Networks

Several institutional investors have recently added to or reduced their stakes in ANET. AdvisorNet Financial Inc raised its holdings in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the period. Knuff & Co LLC bought a new position in Arista Networks in the 3rd quarter valued at $29,000. Richardson Financial Services Inc. increased its stake in Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares during the period. Quarry LP bought a new stake in shares of Arista Networks during the third quarter worth $33,000. Finally, Bare Financial Services Inc lifted its position in shares of Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.