BMO Capital Markets restated their outperform rating on shares of Arista Networks Inc (NYSE:ANET) in a research note released on Tuesday, September 12th.
Other equities research analysts have also recently issued research reports about the company. Barclays PLC restated a buy rating and issued a $161.00 target price on shares of Arista Networks in a research note on Monday, May 15th. CIBC restated a buy rating and issued a $160.00 target price on shares of Arista Networks in a research note on Monday, May 15th. Cowen and Company boosted their target price on Arista Networks from $123.00 to $145.00 and gave the company an outperform rating in a research note on Monday, May 15th. JMP Securities boosted their target price on Arista Networks from $145.00 to $155.00 and gave the company an outperform rating in a research note on Monday, May 15th. Finally, DA Davidson lowered Arista Networks from a buy rating to a neutral rating and set a $153.00 price target on the stock. in a research report on Monday, May 22nd. Fourteen research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $163.34.
Shares of Arista Networks (NYSE ANET) opened at 186.55 on Tuesday. The company has a 50-day moving average of $171.12 and a 200-day moving average of $150.29. Arista Networks has a 12-month low of $78.82 and a 12-month high of $192.08. The stock has a market capitalization of $13.53 billion, a P/E ratio of 48.14 and a beta of 1.30.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 31.78% and a net margin of 25.34%. The business had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. During the same quarter in the previous year, the business posted $0.74 EPS. Arista Networks’s revenue for the quarter was up 50.8% on a year-over-year basis. Equities analysts expect that Arista Networks will post $4.70 earnings per share for the current fiscal year.
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In related news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $148.52, for a total transaction of $297,040.00. Following the completion of the sale, the senior vice president now owns 11,775 shares of the company’s stock, valued at $1,748,823. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $154.51, for a total value of $1,854,120.00. Following the sale, the insider now directly owns 99,841 shares of the company’s stock, valued at approximately $15,426,432.91. The disclosure for this sale can be found here. In the last three months, insiders sold 426,117 shares of company stock valued at $73,000,105. Insiders own 28.09% of the company’s stock.
Large investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System boosted its holdings in Arista Networks by 13.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 65,336 shares of the technology company’s stock worth $9,787,000 after acquiring an additional 7,827 shares in the last quarter. Janus Capital Management LLC boosted its holdings in Arista Networks by 115.5% in the first quarter. Janus Capital Management LLC now owns 35,749 shares of the technology company’s stock worth $4,728,000 after acquiring an additional 19,160 shares in the last quarter. Federated Investors Inc. PA bought a new position in Arista Networks in the second quarter worth approximately $3,090,000. California Public Employees Retirement System boosted its holdings in Arista Networks by 154.9% in the first quarter. California Public Employees Retirement System now owns 90,500 shares of the technology company’s stock worth $11,970,000 after acquiring an additional 55,000 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Arista Networks by 0.9% in the first quarter. Swiss National Bank now owns 75,200 shares of the technology company’s stock worth $9,947,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.
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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