Arista Networks’ (NYSE:ANET) Buy Rating Reaffirmed at Deutsche Bank AG

Deutsche Bank AG reiterated their buy rating on shares of Arista Networks, Inc. (NYSE:ANET) in a report issued on Monday, July 17th. The firm currently has a $165.00 price objective on the technology company’s stock, up from their previous price objective of $156.00.

A number of other equities analysts also recently weighed in on ANET. UBS AG boosted their target price on shares of Arista Networks from $120.00 to $150.00 and gave the stock a neutral rating in a report on Wednesday, May 31st. Gabelli restated a buy rating on shares of Arista Networks in a report on Sunday, April 2nd. Instinet downgraded shares of Arista Networks from a buy rating to a neutral rating in a report on Tuesday, July 4th. Wells Fargo & Company reiterated an outperform rating on shares of Arista Networks in a report on Thursday, April 6th. Finally, FBN Securities upped their price objective on shares of Arista Networks from $125.00 to $155.00 and gave the company an outperform rating in a report on Monday, May 8th. Sixteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $153.32.

Shares of Arista Networks (NYSE ANET) opened at 165.69 on Monday. Arista Networks has a 12 month low of $75.27 and a 12 month high of $176.50. The stock has a market cap of $12.02 billion, a P/E ratio of 42.76 and a beta of 1.33. The company has a 50 day moving average of $155.27 and a 200 day moving average of $136.66.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.15. The business had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The firm’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts expect that Arista Networks will post $4.68 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://transcriptdaily.com/2017/08/13/arista-networks-inc-nyseanet-given-buy-rating-at-deutsche-bank-ag-updated-updated-updated.html.

In other news, SVP Kenneth Duda sold 8,827 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $168.06, for a total value of $1,483,465.62. Following the completion of the transaction, the senior vice president now owns 1,202 shares of the company’s stock, valued at $202,008.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jayshree Ullal sold 148,989 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $173.74, for a total transaction of $25,885,348.86. Following the completion of the transaction, the insider now directly owns 2,576 shares of the company’s stock, valued at approximately $447,554.24. The disclosure for this sale can be found here. Insiders sold 855,843 shares of company stock valued at $138,552,273 in the last three months. Company insiders own 28.09% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANET. PNC Financial Services Group Inc. increased its position in Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares in the last quarter. LS Investment Advisors LLC purchased a new position in Arista Networks during the second quarter valued at about $119,000. D.A. Davidson & CO. increased its position in Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after buying an additional 30 shares in the last quarter. SG Americas Securities LLC purchased a new position in Arista Networks during the first quarter valued at about $164,000. Finally, Financial Architects Inc increased its position in Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock valued at $166,000 after buying an additional 877 shares in the last quarter. 60.84% of the stock is owned by institutional investors.

Arista Networks Company Profile

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Analyst Recommendations for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply