ANET has been the topic of several recent research reports. Cowen and Company upped their price target on shares of Arista Networks from $123.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 5th. UBS AG upped their price target on shares of Arista Networks from $120.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, May 31st. BMO Capital Markets upped their price target on shares of Arista Networks from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Gabelli reaffirmed a “hold” rating on shares of Arista Networks in a report on Friday, April 14th. Finally, DA Davidson lowered shares of 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.
Arista Networks, Inc. (NYSE:ANET) has been assigned an average recommendation of “Hold” from the thirty-three research firms that are covering the firm, MarketBeat Ratings reports. Eighteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $143.08.
Shares of Arista Networks (ANET) traded down 3.150% during trading on Friday, reaching $143.145. The company had a trading volume of 350,040 shares. The company’s 50 day moving average is $153.36 and its 200-day moving average is $133.41. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 46.235 and a beta of 1.33. Arista Networks has a 1-year low of $68.75 and a 1-year high of $162.97.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. The firm had revenue of $335.48 million for the quarter, compared to analyst estimates of $326.19 million. Arista Networks had a net margin of 18.95% and a return on equity of 20.94%. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. On average, equities research analysts anticipate that Arista Networks will post $3.96 earnings per share for the current year.
In related news, Director Daniel Scheinman sold 833 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $151.68, for a total transaction of $126,349.44. Following the completion of the sale, the director now owns 52,500 shares of the company’s stock, valued at approximately $7,963,200. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jayshree Ullal sold 22,763 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $157.81, for a total transaction of $3,592,229.03. Following the sale, the insider now directly owns 2,576 shares of the company’s stock, valued at approximately $406,518.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 646,962 shares of company stock valued at $98,102,398. Insiders own 28.09% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ANET. LS Investment Advisors LLC acquired a new stake in shares of Arista Networks during the second quarter valued at about $119,000. SG Americas Securities LLC acquired a new stake in shares of Arista Networks during the first quarter valued at about $164,000. Financial Architects Inc boosted its stake in shares of Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock valued at $166,000 after buying an additional 877 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Arista Networks during the second quarter valued at about $202,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Arista Networks during the second quarter valued at about $229,000. 60.98% of the stock is owned by institutional investors.
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.