Arista Networks, Inc. (NYSE:ANET)‘s stock had its “buy” rating reaffirmed by equities researchers at Deutsche Bank AG in a report issued on Monday, October 9th. They presently have a $210.00 price target on the technology company’s stock, up from their previous price target of $185.00. Deutsche Bank AG’s price objective indicates a potential upside of 9.56% from the company’s previous close.
Several other research firms have also commented on ANET. BidaskClub raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Saturday, September 23rd. Berenberg Bank began coverage on Arista Networks in a research report on Tuesday, September 26th. They set a “buy” rating and a $225.00 price target for the company. KeyCorp reaffirmed a “buy” rating and issued a $200.00 target price on shares of Arista Networks in a research report on Friday, September 29th. Citigroup Inc. reaffirmed a “buy” rating and issued a $215.00 target price on shares of Arista Networks in a research report on Wednesday, September 27th. Finally, BMO Capital Markets cut Arista Networks from an “outperform” rating to a “market perform” rating and set a $190.00 price target on the stock. in a research note on Thursday, September 28th. They noted that the move was a valuation call. Fifteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Arista Networks presently has a consensus rating of “Buy” and an average price target of $166.49.
Shares of Arista Networks (NYSE:ANET) opened at 191.68 on Monday. Arista Networks has a one year low of $79.05 and a one year high of $196.27. The stock’s 50 day moving average is $184.93 and its 200-day moving average is $160.03. The stock has a market cap of $13.90 billion, a P/E ratio of 49.47 and a beta of 1.31.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.15. The company had revenue of $405.21 million during the quarter, compared to analysts’ expectations of $361.02 million. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The business’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts forecast that Arista Networks will post $4.70 EPS for the current year.
TRADEMARK VIOLATION WARNING: “Arista Networks, Inc. (NYSE:ANET) Earns “Buy” Rating from Deutsche Bank AG” was originally reported by BBNS and is the property of of BBNS. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://baseballnewssource.com/markets/arista-networks-inc-anet-earns-buy-rating-from-deutsche-bank-ag/1704026.html.
In related news, SVP Kenneth Duda sold 8,827 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $168.06, for a total transaction of $1,483,465.62. Following the sale, the senior vice president now owns 1,202 shares in the company, valued at approximately $202,008.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $150.43, for a total transaction of $300,860.00. Following the sale, the senior vice president now owns 11,775 shares in the company, valued at approximately $1,771,313.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 401,046 shares of company stock worth $69,923,064. 28.09% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its stake in Arista Networks by 13.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 65,336 shares of the technology company’s stock valued at $9,787,000 after purchasing an additional 7,827 shares during the last quarter. Federated Investors Inc. PA bought a new position in Arista Networks in the 2nd quarter valued at approximately $3,090,000. Janus Capital Management LLC raised its stake in shares of Arista Networks by 115.5% during the first quarter. Janus Capital Management LLC now owns 35,749 shares of the technology company’s stock valued at $4,728,000 after acquiring an additional 19,160 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Arista Networks by 154.9% during the first quarter. California Public Employees Retirement System now owns 90,500 shares of the technology company’s stock valued at $11,970,000 after acquiring an additional 55,000 shares during the last quarter. Finally, Utah Retirement Systems raised its stake in shares of Arista Networks by 34.7% during the second quarter. Utah Retirement Systems now owns 9,700 shares of the technology company’s stock valued at $1,453,000 after acquiring an additional 2,500 shares during the last quarter. 59.33% of the stock is owned by institutional investors and hedge funds.
About Arista Networks
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.
Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with our FREE daily email newsletter.