Barclays Forecasts Strong Price Appreciation for Arista Networks (NYSE:ANET) Stock

Arista Networks (NYSE:ANET) had its price objective boosted by stock analysts at Barclays from $125.00 to $126.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 13.47% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Evercore ISI lifted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $112.46.

Arista Networks Price Performance

Arista Networks stock opened at $111.05 on Wednesday. The business has a 50 day moving average of $113.95 and a 200-day moving average of $101.32. The company has a market capitalization of $139.89 billion, a P/E ratio of 53.39, a P/E/G ratio of 2.87 and a beta of 1.09. Arista Networks has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Equities analysts anticipate that Arista Networks will post 1.97 EPS for the current year.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 337,320 shares of company stock valued at $37,946,706 over the last three months. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several hedge funds and other institutional investors have recently bought and sold shares of ANET. Caitlin John LLC raised its position in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its position in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont grew its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC raised its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.