Arista Networks (NYSE:ANET) Stock Gets Price Target Cut from Barclays

Arista Networks (NYSE:ANET) had its price target cut by Barclays from $289.00 to $236.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other brokerages have also recently commented on ANET. Jefferies Financial Group set a $250.00 price objective on shares of Arista Networks in a research note on Wednesday, August 5th. Piper Sandler lifted their target price on shares of Arista Networks from $240.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday. Sanford C. Bernstein assumed coverage on shares of Arista Networks in a research report on Wednesday, September 30th. They set an “outperform” rating and a $250.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Arista Networks in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Arista Networks in a research report on Monday, August 31st. They issued a “buy” rating and a $220.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Buy” and a consensus target price of $240.24.

Arista Networks Price Performance

Arista Networks stock traded up $11.54 during trading hours on Wednesday, hitting $170.70. The stock had a trading volume of 11,977,293 shares, compared to its average volume of 6,207,998. Arista Networks has a 1-year low of $114.52 and a 1-year high of $217.41. The stock has a market capitalization of $215.29 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 1.91 and a beta of 1.61. The stock’s fifty day moving average is $192.59 and its two-hundred day moving average is $165.70.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.33 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%. The business’s revenue was up 58.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, sell-side analysts anticipate that Arista Networks will post 3.83 EPS for the current year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 573,509 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $208.13, for a total value of $119,364,428.17. Following the sale, the chief executive officer directly owned 25,000 shares in the company, valued at $5,203,250. This represents a 95.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 26,000 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $185.42, for a total value of $4,820,920.00. Following the sale, the insider directly owned 452,400 shares in the company, valued at approximately $83,884,008. The trade was a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,380,998 shares of company stock valued at $482,687,801 over the last three months. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANET. Cura Wealth Advisors LLC boosted its stake in shares of Arista Networks by 3.1% during the 2nd quarter. Cura Wealth Advisors LLC now owns 1,748 shares of the technology company’s stock worth $297,000 after purchasing an additional 52 shares during the last quarter. Affinity Capital Advisors LLC raised its position in shares of Arista Networks by 1.4% in the third quarter. Affinity Capital Advisors LLC now owns 3,770 shares of the technology company’s stock valued at $817,000 after buying an additional 53 shares during the last quarter. Global Assets Advisory LLC raised its position in shares of Arista Networks by 0.9% in the third quarter. Global Assets Advisory LLC now owns 6,352 shares of the technology company’s stock valued at $1,318,000 after buying an additional 57 shares during the last quarter. Madison Wealth Partners Inc raised its position in shares of Arista Networks by 2.8% in the second quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company’s stock valued at $370,000 after buying an additional 60 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in shares of Arista Networks by 3.2% during the third quarter. Richardson Financial Services Inc. now owns 1,912 shares of the technology company’s stock valued at $389,000 after buying an additional 60 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Arista Networks

Here are the key news stories impacting Arista Networks this week:

• Positive Sentiment: Arista reported third-quarter revenue of $3.66 billion, up 58.5% year over year and above estimates, while EPS of $1.20 also beat expectations. The company raised its outlook, citing demand for AI data-center networking, Ethernet adoption, and growth across hyperscale and enterprise customers. Read More.
• Positive Sentiment: Analyst support offers another tailwind: Melius Research initiated coverage with a “strong-buy” rating, while other recent reports cited buy ratings and bullish price targets. Read More.
• Neutral Sentiment: The recent selloff has left investors debating whether the pullback creates a buying opportunity. ANET has declined substantially over the past month despite its strong results, leaving sentiment divided. Read More.
• Negative Sentiment: Valuation and customer concentration remain risks: Arista’s premium forward earnings multiple leaves less room for disappointment, while reliance on a limited number of large customers could make growth more vulnerable to spending changes. Read More.
• Negative Sentiment: Shares have also faced pressure from a broader AI-infrastructure stock selloff and reported insider sales. Those sales included transactions under pre-arranged trading plans, but can still add to near-term investor caution. Read More.

Arista Networks Company Profile

Arista Networks, Inc develops software-driven networking products for large data centers, cloud environments, AI workloads, and enterprise campuses. Its offerings include Ethernet switches and routers, along with software and services for managing, monitoring, and securing networks.

The company’s software portfolio includes its Extensible Operating System (EOS), which runs across its networking platforms, and CloudVision, a platform for network automation and management. Arista’s products are used by cloud providers, businesses, and other organizations to connect and manage computing infrastructure.

Founded in 2004 and headquartered in Santa Clara, California, Arista serves customers worldwide.