Oppenheimer Boosts Arista Networks (ANET) Price Target to $270.00

Arista Networks (NYSE:ANET) had its price target increased by stock analysts at Oppenheimer from $200.00 to $270.00 in a report released on Monday. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 8.01% from the company’s current price.

Several other equities analysts have also commented on ANET. BMO Capital Markets reaffirmed an “outperform” rating on shares of Arista Networks in a report on Tuesday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 target price on shares of Arista Networks in a report on Tuesday, September 12th. KeyCorp reissued a “buy” rating and issued a $176.00 price target on shares of Arista Networks in a report on Tuesday, September 19th. Morgan Stanley raised shares of Arista Networks from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $125.00 to $210.00 in a report on Wednesday, September 20th. Finally, BidaskClub raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Fourteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $203.24.

Arista Networks (ANET) opened at $249.98 on Monday. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. Arista Networks has a twelve month low of $87.33 and a twelve month high of $252.33. The company has a market cap of $18,270.00, a price-to-earnings ratio of 51.86, a P/E/G ratio of 1.81 and a beta of 1.38.

In other news, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the sale, the insider now owns 86,788 shares of the company’s stock, valued at approximately $16,485,380.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andreas Bechtolsheim sold 132,370 shares of Arista Networks stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $240.17, for a total transaction of $31,791,302.90. Following the sale, the insider now directly owns 73,102 shares in the company, valued at approximately $17,556,907.34. The disclosure for this sale can be found here. Insiders have sold a total of 606,126 shares of company stock worth $138,901,364 in the last ninety days. Insiders own 28.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors lifted its position in Arista Networks by 2.8% during the 2nd quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock valued at $1,135,380,000 after acquiring an additional 209,783 shares during the period. Vanguard Group Inc. lifted its position in Arista Networks by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock valued at $563,810,000 after acquiring an additional 249,753 shares during the period. BlackRock Inc. lifted its position in Arista Networks by 41.1% during the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock valued at $356,048,000 after acquiring an additional 692,651 shares during the period. State Street Corp lifted its position in Arista Networks by 44.7% during the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock valued at $159,278,000 after acquiring an additional 328,534 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Arista Networks by 2.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 649,475 shares of the technology company’s stock valued at $123,136,000 after acquiring an additional 18,465 shares during the period. 57.96% of the stock is owned by institutional investors.

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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)

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