Arista Networks Inc (NYSE:ANET) had its price target boosted by BMO Capital Markets from $130.00 to $145.00 in a research report report published on Wednesday. They currently have an outperform rating on the stock.
ANET has been the subject of a number of other research reports. Zacks Investment Research cut Arista Networks from a buy rating to a hold rating in a research report on Tuesday, January 3rd. Wells Fargo & Co reiterated an outperform rating on shares of Arista Networks in a research report on Tuesday, January 10th. Vetr cut Arista Networks from a strong-buy rating to a buy rating and set a $103.07 target price for the company. in a research report on Tuesday, January 24th. Deutsche Bank AG reiterated a buy rating and set a $85.00 target price (down previously from $105.00) on shares of Arista Networks in a research report on Monday, November 28th. Finally, Barclays PLC increased their target price on Arista Networks from $90.00 to $115.00 and gave the stock an overweight rating in a research report on Wednesday, December 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $111.56.
Shares of Arista Networks (NYSE:ANET) opened at 130.33 on Wednesday. Arista Networks has a 52-week low of $57.89 and a 52-week high of $131.43. The company has a 50-day moving average price of $111.54 and a 200-day moving average price of $94.72. The company has a market cap of $9.25 billion, a P/E ratio of 52.13 and a beta of 1.15.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, February 16th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.22. The business earned $328 million during the quarter, compared to analysts’ expectations of $315.40 million. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The business’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, equities analysts predict that Arista Networks will post $3.74 EPS for the current year.
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In other news, insider Anshul Sadana sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $100.34, for a total value of $1,505,100.00. Following the completion of the sale, the insider now directly owns 192,664 shares of the company’s stock, valued at approximately $19,331,905.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were 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 directly owns 10,650 shares of the company’s stock, valued at $1,279,597.50. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock valued at $2,194,850 over the last ninety days. Corporate insiders own 32.39% of the company’s stock.
Large investors have recently bought and sold shares of the stock. FMR LLC raised its stake in Arista Networks by 44.5% in the fourth quarter. FMR LLC now owns 2,488,290 shares of the company’s stock valued at $240,792,000 after buying an additional 766,800 shares during the last quarter. Capital Research Global Investors raised its stake in Arista Networks by 11.9% in the third quarter. Capital Research Global Investors now owns 6,592,122 shares of the company’s stock valued at $560,858,000 after buying an additional 700,200 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in Arista Networks by 121.2% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 746,540 shares of the company’s stock valued at $63,516,000 after buying an additional 409,112 shares during the last quarter. William Blair Investment Management LLC raised its stake in Arista Networks by 58.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,042,333 shares of the company’s stock valued at $100,867,000 after buying an additional 386,253 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Arista Networks during the third quarter valued at about $30,091,000. 54.94% 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.
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