$2.21 EPS Expected for Arista Networks Inc (ANET) This Quarter

Equities research analysts predict that Arista Networks Inc (NYSE:ANET) will announce earnings of $2.21 per share for the current fiscal quarter, according to Zacks. Eleven analysts have issued estimates for Arista Networks’ earnings, with the lowest EPS estimate coming in at $2.11 and the highest estimate coming in at $2.34. Arista Networks reported earnings per share of $1.93 during the same quarter last year, which suggests a positive year-over-year growth rate of 14.5%. The company is scheduled to report its next quarterly earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Arista Networks will report full-year earnings of $9.39 per share for the current financial year, with EPS estimates ranging from $8.89 to $9.93. For the next year, analysts expect that the business will post earnings of $10.75 per share, with EPS estimates ranging from $9.93 to $11.60. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Arista Networks.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.24. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. The company had revenue of $595.42 million during the quarter, compared to analysts’ expectations of $595.21 million. During the same quarter in the prior year, the company earned $1.66 EPS. The firm’s revenue was up 26.0% on a year-over-year basis.

ANET has been the subject of a number of research reports. ValuEngine cut shares of Arista Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Goldman Sachs Group upped their price objective on shares of Arista Networks from $300.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Nomura raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Friday, January 18th. Gabelli raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $279.00 price objective for the company in a research note on Tuesday, February 19th. Finally, Macquarie set a $325.00 price objective on shares of Arista Networks and gave the company a “buy” rating in a research note on Friday, May 3rd. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $314.13.

In other news, insider Anshul Sadana sold 42,084 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.27, for a total transaction of $12,047,386.68. Following the sale, the insider now owns 6,282 shares of the company’s stock, valued at approximately $1,798,348.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 834 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $272.60, for a total transaction of $227,348.40. Following the sale, the director now directly owns 5,834 shares in the company, valued at approximately $1,590,348.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 245,065 shares of company stock valued at $72,650,653. 23.83% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lenox Wealth Management Inc. bought a new stake in Arista Networks in the first quarter worth $26,000. Larson Financial Group LLC bought a new stake in Arista Networks in the fourth quarter worth $25,000. FTB Advisors Inc. bought a new stake in Arista Networks in the fourth quarter worth $26,000. Kaizen Advisory LLC bought a new stake in Arista Networks in the fourth quarter worth $27,000. Finally, Whittier Trust Co. bought a new stake in Arista Networks in the first quarter worth $44,000. 57.15% of the stock is currently owned by institutional investors.

Shares of Arista Networks stock traded down $3.50 during trading on Friday, reaching $250.12. The company’s stock had a trading volume of 1,309,700 shares, compared to its average volume of 949,045. Arista Networks has a 52-week low of $187.08 and a 52-week high of $331.27. The stock has a market capitalization of $19.06 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 1.55 and a beta of 1.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34.

Arista Networks Company Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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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