Shares of Arista Networks Inc (NYSE:ANET) have been given a consensus rating of “Buy” by the thirty-four ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $287.72.
Several research analysts have recently issued reports on the stock. Morgan Stanley cut shares of Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 target price on the stock. in a report on Tuesday, September 4th. UBS Group assumed coverage on shares of Arista Networks in a report on Wednesday. They issued a “neutral” rating and a $290.00 target price on the stock. Loop Capital raised their target price on shares of Arista Networks to $260.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. DA Davidson raised their target price on shares of Arista Networks from $300.00 to $312.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, William Blair restated an “outperform” rating on shares of Arista Networks in a report on Monday, September 17th.
Shares of Arista Networks stock traded up $0.99 on Thursday, hitting $264.86. The stock had a trading volume of 25,605 shares, compared to its average volume of 1,004,614. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.87 and a current ratio of 3.17. Arista Networks has a one year low of $177.92 and a one year high of $313.37. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 57.03, a P/E/G ratio of 2.01 and a beta of 1.46.
Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, August 2nd. The technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.43. Arista Networks had a net margin of 28.07% and a return on equity of 28.51%. The firm had revenue of $519.85 million for the quarter, compared to analysts’ expectations of $509.62 million. During the same quarter last year, the business earned $1.34 earnings per share. The business’s revenue was up 28.3% on a year-over-year basis. equities research analysts forecast that Arista Networks will post 6.43 earnings per share for the current fiscal year.
In other Arista Networks news, insider Andreas Bechtolsheim sold 31,917 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $303.00, for a total transaction of $9,670,851.00. Following the completion of the transaction, the insider now owns 4,144 shares of the company’s stock, valued at $1,255,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jayshree Ullal sold 76,659 shares of the firm’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $306.41, for a total value of $23,489,084.19. Following the transaction, the insider now directly owns 3,809 shares of the company’s stock, valued at approximately $1,167,115.69. The disclosure for this sale can be found here. Insiders sold 216,820 shares of company stock valued at $64,777,011 in the last ninety days. 24.95% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Three Peaks Capital Management LLC purchased a new position in Arista Networks during the first quarter valued at $101,000. Group One Trading L.P. purchased a new position in shares of Arista Networks in the 1st quarter worth about $102,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Arista Networks in the 2nd quarter worth about $129,000. Signet Financial Management LLC purchased a new position in shares of Arista Networks in the 2nd quarter worth about $142,000. Finally, Cerebellum GP LLC purchased a new position in shares of Arista Networks in the 2nd quarter worth about $159,000. 54.71% of the stock is owned by institutional investors and hedge funds.
Arista Networks Company Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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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