ValuEngine Upgrades Arista Networks (ANET) to “Buy”

Arista Networks (NYSE:ANET) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

ANET has been the subject of a number of other reports. Nomura raised their target price on shares of Arista Networks from $185.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Vetr raised shares of Arista Networks from a “buy” rating to a “strong-buy” rating and set a $327.46 target price for the company in a report on Monday, March 19th. Citigroup raised their target price on shares of Arista Networks from $275.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley raised their target price on shares of Arista Networks from $210.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Arista Networks currently has a consensus rating of “Buy” and an average price target of $250.60.

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Shares of ANET opened at $258.72 on Friday. The company has a quick ratio of 3.70, a current ratio of 4.28 and a debt-to-equity ratio of 0.02. Arista Networks has a 1 year low of $130.09 and a 1 year high of $311.67. The company has a market cap of $19,410.02, a price-to-earnings ratio of 55.64, a P/E/G ratio of 1.91 and a beta of 1.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. Arista Networks had a net margin of 25.71% and a return on equity of 25.86%. The business had revenue of $467.90 million during the quarter, compared to analyst estimates of $463.82 million. During the same period last year, the firm posted $1.04 EPS. The company’s revenue was up 42.7% on a year-over-year basis. analysts forecast that Arista Networks will post 5.99 earnings per share for the current fiscal year.

In other news, CEO Jayshree Ullal sold 300 shares of Arista Networks stock in a transaction on Friday, March 9th. The stock was sold at an average price of $297.78, for a total transaction of $89,334.00. Following the completion of the sale, the chief executive officer now directly owns 5,900 shares in the company, valued at $1,756,902. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $252.98, for a total value of $505,960.00. Following the sale, the senior vice president now owns 13,884 shares of the company’s stock, valued at $3,512,374.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,166 shares of company stock valued at $26,069,035. Corporate insiders own 28.09% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of Arista Networks by 28.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,716 shares of the technology company’s stock worth $1,111,000 after purchasing an additional 1,039 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Arista Networks by 5.0% during the fourth quarter. Xact Kapitalforvaltning AB now owns 11,622 shares of the technology company’s stock worth $2,738,000 after purchasing an additional 551 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Arista Networks by 5.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,732 shares of the technology company’s stock worth $3,236,000 after purchasing an additional 655 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Arista Networks by 218.7% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,940 shares of the technology company’s stock valued at $9,645,000 after acquiring an additional 28,096 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Arista Networks in the fourth quarter valued at about $100,000. Institutional investors and hedge funds own 56.48% of the company’s stock.

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Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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