UBS Group Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET) had its price target upped by research analysts at UBS Group from $106.00 to $112.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective points to a potential upside of 8.24% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup boosted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group upped their target price on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Piper Sandler restated a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research note on Wednesday. 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. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Stock Performance

Shares of ANET stock opened at $103.47 on Wednesday. Arista Networks has a one year low of $60.08 and a one year high of $133.57. The company has a 50 day moving average price of $114.01 and a 200 day moving average price of $101.55. The firm has a market capitalization of $130.35 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 31.22%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities analysts forecast that Arista Networks will post 2.18 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,944 shares of company stock worth $30,214,186 in the last ninety days. 3.54% of the stock is owned by insiders.

Institutional Trading of Arista Networks

A number of institutional investors and hedge funds have recently modified their holdings of the business. Zions Bancorporation N.A. raised its holdings in shares of Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the period. Intellectus Partners LLC raised its holdings in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares during the period. Altman Advisors Inc. raised its holdings in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the period. HM Payson & Co. raised its holdings in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the period. Finally, Beacon Financial Advisory LLC raised its holdings in shares of Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

About Arista Networks

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.