Arista Networks (NYSE:ANET) Price Target Cut to $100.00 by Analysts at Evercore ISI

Arista Networks (NYSE:ANET) had its price target lowered by research analysts at Evercore ISI from $130.00 to $100.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price objective would indicate a potential upside of 36.05% from the stock’s current price.

A number of other research analysts also recently commented on ANET. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.29.

Arista Networks Trading Up 1.1 %

NYSE ANET opened at $73.50 on Tuesday. Arista Networks has a 52 week low of $59.43 and a 52 week high of $133.58. The stock has a market cap of $92.69 billion, a P/E ratio of 33.11, a PEG ratio of 3.10 and a beta of 1.30. The company’s fifty day simple moving average is $87.90 and its 200-day simple moving average is $99.99.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, research analysts expect that Arista Networks will post 2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This represents a 5.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks during the fourth quarter valued at $242,000. GHE LLC increased its position in shares of Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC raised its holdings in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after acquiring an additional 7,466 shares during the period. Unified Investment Management purchased a new stake in shares of Arista Networks in the 4th quarter valued at approximately $630,000. Finally, Berkshire Capital Holdings Inc. boosted its stake in Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after purchasing an additional 55,430 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.