Equities analysts predict that Arista Networks Inc (NYSE:ANET) will report sales of $462.56 million for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Arista Networks’ earnings. The lowest sales estimate is $458.50 million and the highest is $470.00 million. Arista Networks reported sales of $335.48 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 37.9%. The company is scheduled to report its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Arista Networks will report full year sales of $462.56 million for the current fiscal year, with estimates ranging from $2.02 billion to $2.13 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.54 billion per share, with estimates ranging from $2.32 billion to $2.69 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Arista Networks.
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, topping the Zacks’ consensus estimate of $1.39 by $0.32. Arista Networks had a return on equity of 25.86% and a net margin of 25.71%. The firm had revenue of $467.90 million during the quarter, compared to the consensus estimate of $463.82 million. During the same period last year, the business posted $1.04 EPS. The business’s revenue was up 42.7% compared to the same quarter last year.
In other Arista Networks news, SVP Kenneth Duda sold 127,576 shares of Arista Networks stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $235.15, for a total transaction of $29,999,496.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 5,000 shares of Arista Networks stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $282.55, for a total transaction of $1,412,750.00. Following the transaction, the chief executive officer now directly owns 5,900 shares in the company, valued at approximately $1,667,045. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,203 shares of company stock worth $52,290,318. Insiders own 28.09% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Jackson Square Partners LLC lifted its position in shares of Arista Networks by 380.2% during the 4th quarter. Jackson Square Partners LLC now owns 1,272,515 shares of the technology company’s stock worth $299,779,000 after buying an additional 1,007,491 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Arista Networks by 18.5% during the 4th quarter. First Trust Advisors LP now owns 904,279 shares of the technology company’s stock worth $213,030,000 after purchasing an additional 140,944 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Arista Networks by 22.2% during the 4th quarter. Renaissance Technologies LLC now owns 826,200 shares of the technology company’s stock worth $194,636,000 after purchasing an additional 150,000 shares during the last quarter. Eaton Vance Management increased its stake in shares of Arista Networks by 0.9% during the 4th quarter. Eaton Vance Management now owns 738,194 shares of the technology company’s stock worth $173,904,000 after purchasing an additional 6,374 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Arista Networks by 2.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 649,475 shares of the technology company’s stock worth $123,136,000 after purchasing an additional 18,465 shares during the last quarter. 56.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Arista Networks (NYSE:ANET) opened at $297.40 on Tuesday. The company has a current ratio of 4.28, a quick ratio of 3.70 and a debt-to-equity ratio of 0.02. Arista Networks has a 1-year low of $124.81 and a 1-year high of $311.67. The firm has a market capitalization of $21,740.00, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46.
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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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