Arista Networks (NYSE:ANET) Shares Up 0.6% – Should You Buy?

Arista Networks, Inc. (NYSE:ANET) traded up 0.6% during trading on Thursday . The company traded as high as $112.12 and last traded at $108.76. 1,357,855 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 8,793,188 shares. The stock had previously closed at $108.07.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Barclays dropped their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.70.

Arista Networks Stock Up 1.2 %

The firm’s fifty day simple moving average is $101.87 and its 200-day simple moving average is $91.96. The company has a market cap of $137.81 billion, a PE ratio of 52.59, a P/E/G ratio of 3.21 and a beta of 1.10.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. On average, analysts predict that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Insider Activity

In related news, SVP Marc Taxay sold 2,496 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $97.09, for a total transaction of $242,342.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 353,476 shares of company stock valued at $36,841,998. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of large investors have recently bought and sold shares of ANET. Zions Bancorporation N.A. lifted its holdings in Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares in the last quarter. Intellectus Partners LLC lifted its holdings in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the last quarter. Altman Advisors Inc. increased its position in shares of Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the last quarter. Finally, Everpar Advisors LLC raised its holdings in shares of Arista Networks by 1.5% in the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after purchasing an additional 29 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.