Arista Networks (NYSE:ANET) Announces Earnings Results


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Arista Networks (NYSE:ANET) issued its quarterly earnings results on Monday. The technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.12, MarketWatch Earnings reports. Arista Networks had a net margin of 32.06% and a return on equity of 20.37%. The business had revenue of $667.56 million for the quarter, compared to analysts’ expectations of $642.57 million. During the same period last year, the business earned $2.02 earnings per share. The business’s quarterly revenue was up 27.6% on a year-over-year basis.

NYSE ANET opened at $316.74 on Thursday. Arista Networks has a 12 month low of $192.96 and a 12 month high of $326.60. The firm has a market capitalization of $24.16 billion, a PE ratio of 35.47, a P/E/G ratio of 3.91 and a beta of 1.21. The company’s 50 day simple moving average is $307.85 and its 200 day simple moving average is $288.19.

A number of research firms have recently weighed in on ANET. JPMorgan Chase & Co. increased their price objective on Arista Networks from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 19th. Credit Suisse Group raised their price target on Arista Networks from $359.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays raised their price target on Arista Networks from $294.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 25th. Morgan Stanley increased their price objective on Arista Networks from $320.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Finally, KeyCorp raised their target price on Arista Networks from $365.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $320.77.

In other Arista Networks news, Director Ann Mather sold 416 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $315.82, for a total transaction of $131,381.12. Following the sale, the director now directly owns 1,002 shares of the company’s stock, valued at $316,451.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $317.58, for a total transaction of $3,175,800.00. Following the sale, the senior vice president now directly owns 18,695 shares in the company, valued at $5,937,158.10. The disclosure for this sale can be found here. Insiders have sold 81,642 shares of company stock worth $24,895,869 in the last quarter. Company insiders own 23.77% of the company’s stock.

About Arista Networks

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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Earnings History for Arista Networks (NYSE:ANET)

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