Arista Networks (ANET) Price Target Increased to $300.00 by Analysts at Needham & Company LLC

Arista Networks (NYSE:ANET) had its target price upped by Needham & Company LLC from $230.00 to $300.00 in a research note published on Wednesday, January 10th, Marketbeat Ratings reports. The firm currently has a buy rating on the technology company’s stock.

A number of other brokerages also recently weighed in on ANET. Citigroup raised their target price on Arista Networks to $250.00 and gave the company a buy rating in a report on Friday, December 1st. KeyCorp reissued an overweight rating and set a $240.00 price objective (up previously from $213.00) on shares of Arista Networks in a report on Thursday, December 14th. Nomura raised their price objective on Arista Networks from $173.00 to $185.00 and gave the company a neutral rating in a report on Friday, November 3rd. BMO Capital Markets raised their price objective on Arista Networks from $190.00 to $205.00 and gave the company a market perform rating in a report on Friday, November 3rd. They noted that the move was a valuation call. Finally, Royal Bank of Canada raised their target price on Arista Networks from $190.00 to $200.00 and gave the stock a sector perform rating in a research report on Friday, November 3rd. Fourteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $205.66.

Arista Networks (NYSE:ANET) opened at $257.46 on Wednesday. The firm has a market capitalization of $18,820.00, a P/E ratio of 53.41, a PEG ratio of 1.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66. Arista Networks has a 52 week low of $87.33 and a 52 week high of $262.84.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.37 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.33. Arista Networks had a return on equity of 24.76% and a net margin of 25.10%. research analysts expect that Arista Networks will post 4.63 EPS for the current year.

In other Arista Networks news, insider Jayshree Ullal sold 81,380 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $211.89, for a total transaction of $17,243,608.20. Following the sale, the insider now owns 3,564 shares of the company’s stock, valued at approximately $755,175.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $235.58, for a total transaction of $471,160.00. Following the completion of the transaction, the senior vice president now directly owns 13,460 shares in the company, valued at approximately $3,170,906.80. The disclosure for this sale can be found here. Insiders have sold a total of 594,126 shares of company stock worth $136,621,964 in the last three months. Insiders own 28.09% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC purchased a new position in Arista Networks in the third quarter worth $130,000. PNC Financial Services Group Inc. grew its position in Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after acquiring an additional 126 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Arista Networks in the third quarter worth $151,000. D.A. Davidson & CO. grew its position in Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after acquiring an additional 30 shares in the last quarter. Finally, Sigma Investment Counselors Inc. purchased a new position in Arista Networks in the third quarter worth $228,000. Institutional investors own 57.96% of the company’s stock.

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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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