Brokerages Expect Arista Networks, Inc. (NYSE:ANET) Will Announce Earnings of $2.35 Per Share


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Wall Street brokerages expect that Arista Networks, Inc. (NYSE:ANET) will report earnings of $2.35 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Arista Networks’ earnings. The highest EPS estimate is $2.45 and the lowest is $2.22. Arista Networks posted earnings per share of $2.02 during the same quarter last year, which would suggest a positive year over year growth rate of 16.3%. The company is expected to issue its next quarterly earnings report on Tuesday, May 4th.

According to Zacks, analysts expect that Arista Networks will report full-year earnings of $10.00 per share for the current fiscal year, with EPS estimates ranging from $9.78 to $10.35. For the next year, analysts expect that the firm will post earnings of $11.25 per share, with EPS estimates ranging from $10.71 to $12.70. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Arista Networks.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Wednesday, February 17th. The technology company reported $2.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.10. Arista Networks had a net margin of 32.06% and a return on equity of 20.37%.

A number of research firms have recently issued reports on ANET. Wolfe Research raised shares of Arista Networks from a “peer perform” rating to an “outperform” rating and increased their price objective for the stock from $250.00 to $350.00 in a research report on Wednesday, December 16th. Credit Suisse Group raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $351.00 price objective on the stock in a research report on Wednesday, January 6th. Piper Sandler increased their price objective on shares of Arista Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday. Rosenblatt Securities increased their price objective on shares of Arista Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Friday. Finally, FBN Securities increased their price objective on shares of Arista Networks from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $306.90.

Shares of ANET stock traded down $4.62 on Tuesday, reaching $287.54. 53,777 shares of the company were exchanged, compared to its average volume of 631,549. The company has a market cap of $21.76 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 3.91 and a beta of 1.21. The company has a 50-day moving average of $311.81 and a 200-day moving average of $257.62. Arista Networks has a one year low of $156.63 and a one year high of $326.60.

In related news, Director Ann Mather sold 900 shares of the business’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $325.23, for a total transaction of $292,707.00. Following the sale, the director now directly owns 1,486 shares in the company, valued at approximately $483,291.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 3,250 shares of the business’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $325.47, for a total value of $1,057,777.50. Following the sale, the senior vice president now owns 8,695 shares in the company, valued at $2,829,961.65. The disclosure for this sale can be found here. Insiders sold 272,349 shares of company stock valued at $77,723,894 over the last ninety days. Corporate insiders own 23.77% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ANET. Timucuan Asset Management Inc. FL purchased a new position in shares of Arista Networks in the 3rd quarter worth about $65,386,000. Epoch Investment Partners Inc. boosted its holdings in Arista Networks by 43.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 871,778 shares of the technology company’s stock valued at $180,397,000 after acquiring an additional 262,329 shares during the period. BlackRock Inc. boosted its holdings in Arista Networks by 5.6% during the 4th quarter. BlackRock Inc. now owns 4,459,732 shares of the technology company’s stock valued at $1,295,865,000 after acquiring an additional 234,774 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in Arista Networks during the 3rd quarter valued at about $34,987,000. Finally, Fiera Capital Corp purchased a new stake in Arista Networks during the 4th quarter valued at about $44,797,000. Hedge funds and other institutional investors own 61.75% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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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Earnings History and Estimates for Arista Networks (NYSE:ANET)

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