Deutsche Bank AG reaffirmed their buy rating on shares of Arista Networks, Inc. (NYSE:ANET) in a research note issued to investors on Monday morning. They currently have a $210.00 target price on the technology company’s stock, up from their prior target price of $185.00.
A number of other research analysts have also recently issued reports on ANET. Argus reaffirmed a buy rating on shares of Arista Networks in a research note on Monday, August 7th. Jefferies Group LLC reaffirmed a hold rating and set a $145.00 price objective (up from $120.00) on shares of Arista Networks in a research note on Wednesday, August 9th. Stifel Nicolaus reaffirmed a hold rating and set a $165.00 price objective (up from $145.00) on shares of Arista Networks in a research note on Wednesday, August 9th. J P Morgan Chase & Co raised Arista Networks from a neutral rating to an overweight rating and raised their price objective for the company from $144.00 to $186.00 in a research note on Friday, August 4th. Finally, William Blair raised Arista Networks from a market perform rating to an outperform rating in a research note on Friday, August 4th. Fifteen investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $166.49.
Arista Networks (NYSE:ANET) opened at 191.21 on Monday. Arista Networks has a one year low of $79.05 and a one year high of $196.27. The firm’s 50-day moving average price is $182.30 and its 200 day moving average price is $157.56. The firm has a market capitalization of $13.87 billion, a P/E ratio of 49.34 and a beta of 1.31.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The firm had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 50.8% compared to the same quarter last year. On average, equities analysts anticipate that Arista Networks will post $4.70 earnings per share for the current fiscal year.
In other news, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $154.51, for a total transaction of $1,854,120.00. Following the completion of the transaction, the insider now directly owns 99,841 shares in the company, valued at $15,426,432.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 7,775 shares of Arista Networks stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $194.12, for a total transaction of $1,509,283.00. The disclosure for this sale can be found here. Insiders have sold 423,809 shares of company stock valued at $73,090,013 over the last quarter. Company insiders own 28.09% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after acquiring an additional 126 shares in the last quarter. LS Investment Advisors LLC bought a new stake in shares of Arista Networks during the second quarter valued at approximately $119,000. D.A. Davidson & CO. increased its position in shares of Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after acquiring an additional 30 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Arista Networks during the first quarter valued at approximately $164,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Arista Networks during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.
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.
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