Arista Networks (ANET) Price Target Raised to $250.00

Arista Networks (NYSE:ANET) had its price target raised by Nomura from $185.00 to $250.00 in a research note released on Tuesday. They currently have a neutral rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. DA Davidson upgraded Arista Networks from a neutral rating to a buy rating and set a $224.00 price target for the company in a report on Friday, November 3rd. Piper Jaffray Companies assumed coverage on Arista Networks in a report on Monday, November 13th. They issued a neutral rating and a $230.00 price target for the company. BMO Capital Markets reiterated a hold rating and issued a $205.00 price target on shares of Arista Networks in a report on Thursday, February 15th. Needham & Company LLC reiterated a buy rating and issued a $217.00 price target (up from $175.00) on shares of Arista Networks in a report on Friday, November 3rd. They noted that the move was a valuation call. Finally, Stifel Nicolaus reiterated a buy rating and issued a $270.00 price target on shares of Arista Networks in a report on Thursday, December 14th. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $246.20.

Arista Networks (NYSE ANET) opened at $244.66 on Tuesday. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $17,880.00, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.47. Arista Networks has a twelve month low of $115.86 and a twelve month high of $311.67.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.32. The company had revenue of $467.90 million during the quarter, compared to the consensus estimate of $463.82 million. Arista Networks had a return on equity of 27.23% and a net margin of 25.71%. Arista Networks’s revenue was up 42.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 EPS. equities research analysts anticipate that Arista Networks will post 5.57 earnings per share for the current fiscal year.

In related news, Director Ann Mather sold 433 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $245.37, for a total transaction of $106,245.21. Following the completion of the sale, the director now directly owns 5,833 shares of the company’s stock, valued at approximately $1,431,243.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $230.09, for a total transaction of $460,180.00. Following the sale, the senior vice president now directly owns 12,335 shares of the company’s stock, valued at $2,838,160.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,753 shares of company stock valued at $42,749,578. 28.09% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in ANET. Jackson Square Partners LLC boosted its position in Arista Networks by 380.2% in the 4th quarter. Jackson Square Partners LLC now owns 1,272,515 shares of the technology company’s stock valued at $299,779,000 after buying an additional 1,007,491 shares during the last quarter. Macquarie Group Ltd. boosted its position in Arista Networks by 125.3% in the 4th quarter. Macquarie Group Ltd. now owns 617,554 shares of the technology company’s stock valued at $145,483,000 after buying an additional 343,415 shares during the last quarter. Two Sigma Advisers LP boosted its position in Arista Networks by 188.8% in the 4th quarter. Two Sigma Advisers LP now owns 433,024 shares of the technology company’s stock valued at $102,012,000 after buying an additional 283,061 shares during the last quarter. Atlantic Trust Group LLC purchased a new position in Arista Networks in the 3rd quarter valued at about $50,736,000. Finally, Allianz Asset Management GmbH boosted its position in Arista Networks by 69.4% in the 4th quarter. Allianz Asset Management GmbH now owns 648,248 shares of the technology company’s stock valued at $152,714,000 after buying an additional 265,519 shares during the last quarter. 57.18% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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