Arista Networks (NYSE:ANET) has been given a $260.00 target price by stock analysts at Rosenblatt Securities in a report issued on Tuesday, TipRanks reports. The brokerage currently has a “hold” rating on the technology company’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 8.55% from the company’s previous close.
A number of other research firms have also issued reports on ANET. JMP Securities reissued an “outperform” rating and set a $280.00 price target (down from $315.00) on shares of Arista Networks in a research report on Friday, August 2nd. Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating and set a $246.00 price target for the company. in a research report on Tuesday. ValuEngine lowered shares of Arista Networks from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Needham & Company LLC reduced their price target on shares of Arista Networks to $340.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Finally, Barclays started coverage on shares of Arista Networks in a research report on Wednesday, August 7th. They set an “overweight” rating and a $284.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. Arista Networks presently has an average rating of “Buy” and an average price target of $287.32.
ANET traded up $0.45 during trading on Tuesday, reaching $239.53. 206,870 shares of the company’s stock were exchanged, compared to its average volume of 567,318. Arista Networks has a 1 year low of $187.08 and a 1 year high of $331.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17. The stock has a market capitalization of $18.32 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58. The company’s fifty day simple moving average is $234.98 and its 200-day simple moving average is $260.19.
Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.46. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The company had revenue of $608.32 million during the quarter, compared to analyst estimates of $606.78 million. During the same period last year, the firm posted $1.93 EPS. Arista Networks’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts forecast that Arista Networks will post 8.71 EPS for the current year.
In related news, Director Nikos Theodosopoulos sold 1,360 shares of Arista Networks stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $225.31, for a total value of $306,421.60. Following the sale, the director now owns 4,630 shares of the company’s stock, valued at approximately $1,043,185.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 10,876 shares of Arista Networks stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $226.89, for a total transaction of $2,467,655.64. Following the completion of the sale, the senior vice president now directly owns 2,979 shares in the company, valued at approximately $675,905.31. The disclosure for this sale can be found here. Insiders have sold a total of 48,311 shares of company stock worth $11,584,129 in the last ninety days. Corporate insiders own 23.83% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ANET. Nuveen Asset Management LLC grew its stake in Arista Networks by 65,325.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 817,820 shares of the technology company’s stock valued at $212,322,000 after acquiring an additional 816,570 shares during the period. First Trust Advisors LP grew its stake in Arista Networks by 53.1% in the 2nd quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock valued at $296,967,000 after acquiring an additional 396,782 shares during the period. FMR LLC grew its stake in Arista Networks by 25.1% in the 1st quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock valued at $615,319,000 after acquiring an additional 392,021 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in Arista Networks by 147.5% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 460,100 shares of the technology company’s stock valued at $119,451,000 after acquiring an additional 274,175 shares during the period. Finally, Swedbank grew its stake in Arista Networks by 56.2% in the 2nd quarter. Swedbank now owns 757,942 shares of the technology company’s stock valued at $196,777,000 after acquiring an additional 272,722 shares during the period. 58.74% of the stock is currently owned by hedge funds and other institutional investors.
About Arista Networks
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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