Arista Networks Inc (NYSE:ANET) has received a consensus recommendation of “Buy” from the thirty-five ratings firms that are currently covering the company, Marketbeat.com reports. Fourteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $249.42.
ANET has been the subject of a number of research analyst reports. Vetr downgraded shares of Arista Networks from a “strong-buy” rating to a “buy” rating and set a $321.08 price target for the company. in a report on Tuesday. Citigroup upped their price target on shares of Arista Networks to $250.00 and gave the company a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $267.00 price target for the company in a report on Thursday, February 22nd. KeyCorp reissued an “overweight” rating and issued a $240.00 price target (up from $213.00) on shares of Arista Networks in a report on Thursday, December 14th. Finally, JMP Securities upped their price target on shares of Arista Networks from $230.00 to $315.00 and gave the company a “market perform” rating in a report on Friday, January 26th.
In other news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $235.58, for a total value of $471,160.00. Following the completion of the sale, the senior vice president now directly owns 13,460 shares of the company’s stock, valued at $3,170,906.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 127,576 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $235.15, for a total transaction of $29,999,496.40. The disclosure for this sale can be found here. Insiders sold 213,203 shares of company stock valued at $52,290,318 over the last three months. 28.09% of the stock is owned by insiders.
Shares of Arista Networks (NYSE ANET) traded up $1.38 during midday trading on Friday, reaching $295.15. 922,079 shares of the company’s stock were exchanged, compared to its average volume of 1,650,000. Arista Networks has a 52 week low of $123.36 and a 52 week high of $311.67. The company has a quick ratio of 3.70, a current ratio of 4.28 and a debt-to-equity ratio of 0.02. The firm has a market cap of $21,680.00, a P/E ratio of 49.44, a price-to-earnings-growth ratio of 2.08 and a beta of 1.46.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.32. Arista Networks had a net margin of 25.71% and a return on equity of 25.86%. The company had revenue of $467.90 million during the quarter, compared to the consensus estimate of $463.82 million. During the same period in the prior year, the company earned $1.04 EPS. Arista Networks’s revenue was up 42.7% on a year-over-year basis. sell-side analysts anticipate that Arista Networks will post 6.01 EPS for the current year.
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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.
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