Arista Networks, Inc. (NYSE:ANET) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Arista Networks, Inc. (NYSE:ANET) has received an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $100.70.

A number of analysts have issued reports on ANET shares. Barclays cut their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on shares of Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities lifted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Finally, Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th.

Arista Networks Trading Up 1.4 %

NYSE:ANET opened at $114.65 on Thursday. The company has a market cap of $144.43 billion, a P/E ratio of 55.12, a P/E/G ratio of 3.21 and a beta of 1.10. Arista Networks has a twelve month low of $56.65 and a twelve month high of $116.94. The company’s 50-day moving average price is $102.96 and its 200-day moving average price is $93.31.

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

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $95.63, for a total value of $765,040.00. Following the sale, the director now owns 187,784 shares of the company’s stock, valued at $17,957,783.92. This trade represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 2,320 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $97.09, for a total transaction of $225,254.60. Following the transaction, the insider now owns 288 shares of the company’s stock, valued at $27,962.64. This trade represents a 88.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,476 shares of company stock valued at $36,841,998 in the last 90 days. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently modified their holdings of ANET. Beacon Capital Management LLC lifted its holdings in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in Arista Networks during the second quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new position in Arista Networks in the second quarter valued at approximately $35,000. MidAtlantic Capital Management Inc. purchased a new position in Arista Networks in the third quarter valued at approximately $44,000. Finally, HM Payson & Co. raised its holdings in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

About Arista Networks

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.