Arista Networks Inc (NYSE:ANET) had its price objective boosted by FBN Securities from $125.00 to $155.00 in a research note published on Monday, May 8th. They currently have an outperform rating on the technology company’s stock.
A number of other analysts have also recently commented on the company. MKM Partners reaffirmed a neutral rating and issued a $84.00 price target (down from $95.00) on shares of Arista Networks in a research note on Wednesday, January 18th. Vetr cut shares of Arista Networks from a strong-buy rating to a buy rating and set a $103.07 price target for the company. in a research note on Tuesday, January 24th. Needham & Company LLC reiterated a buy rating and set a $130.00 price objective (up previously from $110.00) on shares of Arista Networks in a research report on Friday, February 17th. Stifel Nicolaus lifted their target price on Arista Networks from $102.00 to $125.00 and gave the company a buy rating in a research report on Friday, February 17th. Finally, Zacks Investment Research raised Arista Networks from a hold rating to a strong-buy rating and set a $141.00 price target on the stock in a research note on Wednesday, February 22nd. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $130.41.
Shares of Arista Networks (NYSE:ANET) opened at 146.45 on Monday. Arista Networks has a 52-week low of $60.51 and a 52-week high of $148.60. The stock’s 50 day moving average is $140.44 and its 200 day moving average is $114.19. The stock has a market capitalization of $10.55 billion, a PE ratio of 47.30 and a beta of 1.15.
Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The business had revenue of $335.48 million for the quarter, compared to analyst estimates of $326.19 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Arista Networks’s revenue was up 38.5% compared to the same quarter last year. Equities research analysts expect that Arista Networks will post $3.94 earnings per share for the current fiscal year.
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In related news, insider Anshul Sadana sold 21,000 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $130.00, for a total value of $2,730,000.00. Following the sale, the insider now directly owns 103,524 shares in the company, valued at $13,458,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $120.15, for a total value of $240,300.00. Following the completion of the sale, the senior vice president now owns 10,650 shares in the company, valued at $1,279,597.50. The disclosure for this sale can be found here. Insiders sold 294,164 shares of company stock valued at $42,532,109 in the last ninety days. 32.39% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Arista Networks during the first quarter valued at $164,000. Financial Architects Inc boosted its stake in shares of Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock valued at $166,000 after buying an additional 877 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of Arista Networks during the first quarter valued at $205,000. Flinton Capital Management LLC bought a new stake in shares of Arista Networks during the fourth quarter valued at $153,000. Finally, IFP Advisors Inc boosted its stake in shares of Arista Networks by 16.5% in the first quarter. IFP Advisors Inc now owns 1,697 shares of the technology company’s stock valued at $224,000 after buying an additional 240 shares during the last quarter. Institutional investors own 54.94% of the company’s stock.
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.
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