Arista Networks Inc (ANET) Given Consensus Rating of “Buy” by Analysts

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Shares of Arista Networks Inc (NYSE:ANET) have been assigned an average rating of “Buy” from the thirty-two ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $292.14.

ANET has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a research report on Monday, September 17th. Goldman Sachs Group cut Arista Networks from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Morgan Stanley raised Arista Networks from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $290.00 to $250.00 in a research report on Monday. Bank of America raised Arista Networks from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Thursday, December 6th. Finally, UBS Group assumed coverage on Arista Networks in a research report on Wednesday, September 26th. They issued a “neutral” rating and a $290.00 target price for the company.

In other Arista Networks news, SVP Kenneth Duda sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $238.61, for a total transaction of $2,624,710.00. Following the completion of the sale, the senior vice president now directly owns 2,664 shares of the company’s stock, valued at approximately $635,657.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 567 shares of the company’s stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $188.34, for a total value of $106,788.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,725 shares of company stock valued at $7,565,795. 24.95% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Capital International Investors purchased a new position in Arista Networks in the 3rd quarter valued at approximately $416,263,000. HRT Financial LLC purchased a new position in Arista Networks in the 2nd quarter valued at approximately $252,000. NorthCoast Asset Management LLC increased its stake in Arista Networks by 377.6% in the 2nd quarter. NorthCoast Asset Management LLC now owns 73,853 shares of the technology company’s stock valued at $19,016,000 after purchasing an additional 58,389 shares in the last quarter. Toronto Dominion Bank increased its stake in Arista Networks by 551.9% in the 3rd quarter. Toronto Dominion Bank now owns 33,604 shares of the technology company’s stock valued at $8,932,000 after purchasing an additional 28,449 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Arista Networks by 94.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,194 shares of the technology company’s stock valued at $1,646,000 after purchasing an additional 3,001 shares in the last quarter. 58.52% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ANET traded up $0.40 on Friday, hitting $217.35. 8,514 shares of the company’s stock were exchanged, compared to its average volume of 882,333. The stock has a market cap of $15.27 billion, a P/E ratio of 46.38, a P/E/G ratio of 1.19 and a beta of 1.55. Arista Networks has a 1-year low of $187.08 and a 1-year high of $313.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.51.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.21. The business had revenue of $563.31 million during the quarter, compared to analysts’ expectations of $548.81 million. Arista Networks had a return on equity of 29.06% and a net margin of 28.05%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. On average, equities research analysts predict that Arista Networks will post 6.84 EPS for the current year.

About Arista Networks

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.

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Analyst Recommendations for Arista Networks (NYSE:ANET)

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