BMO Capital Markets reaffirmed their outperform rating on shares of Arista Networks, Inc. (NYSE:ANET) in a research report sent to investors on Tuesday, September 12th.
A number of other research analysts also recently commented on ANET. Barclays PLC reaffirmed a buy rating and set a $161.00 target price on shares of Arista Networks in a report on Monday, May 15th. CIBC reissued a buy rating and issued a $160.00 price target on shares of Arista Networks in a report on Monday, May 15th. Cowen and Company raised their price target on Arista Networks from $123.00 to $145.00 and gave the stock an outperform rating in a report on Monday, May 15th. JMP Securities raised their price target on Arista Networks from $145.00 to $155.00 and gave the stock an outperform rating in a report on Monday, May 15th. Finally, DA Davidson downgraded Arista Networks from a buy rating to a neutral rating and set a $153.00 price target on the stock. in a report on Monday, May 22nd. Fourteen analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Arista Networks currently has a consensus rating of Buy and a consensus target price of $162.17.
Arista Networks (ANET) traded up 1.01% during trading on Tuesday, hitting $182.66. 650,779 shares of the stock traded hands. Arista Networks has a 52-week low of $78.82 and a 52-week high of $192.08. The stock has a market cap of $13.25 billion, a P/E ratio of 47.14 and a beta of 1.30. The stock has a 50 day moving average price of $171.12 and a 200-day moving average price of $150.29.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The firm had revenue of $405.21 million during the quarter, compared to analyst estimates of $361.02 million. During the same quarter last year, the firm earned $0.74 EPS. Arista Networks’s quarterly revenue was up 50.8% on a year-over-year basis. On average, analysts anticipate that Arista Networks will post $4.70 EPS for the current fiscal year.
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In other news, insider Jayshree Ullal sold 200,268 shares of Arista Networks stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $173.37, for a total value of $34,720,463.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction dated 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 completion of the transaction, the insider now owns 99,841 shares in the company, valued at $15,426,432.91. The disclosure for this sale can be found here. Insiders sold 426,117 shares of company stock valued at $73,000,105 in the last ninety days. Insiders own 28.09% of the company’s stock.
Several institutional investors have recently bought and sold shares of ANET. State Board of Administration of Florida Retirement System increased its stake in shares of Arista Networks by 1.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 57,509 shares of the technology company’s stock worth $7,607,000 after purchasing an additional 766 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Arista Networks by 50.5% in the first quarter. Advisors Asset Management Inc. now owns 7,631 shares of the technology company’s stock worth $1,009,000 after purchasing an additional 2,562 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Arista Networks by 45.6% in the first quarter. Bank of New York Mellon Corp now owns 207,912 shares of the technology company’s stock worth $27,501,000 after purchasing an additional 65,120 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Arista Networks by 137.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,648 shares of the technology company’s stock worth $747,000 after purchasing an additional 3,268 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arista Networks by 39.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,814 shares of the technology company’s stock worth $240,000 after purchasing an additional 509 shares during the period. 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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