Arista Networks (NYSE:ANET) is set to issue its quarterly earnings data after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of $2.19 per share for the quarter. Arista Networks has set its Q3 2019 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $2.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.46. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The business had revenue of $608.32 million for the quarter, compared to analysts’ expectations of $606.78 million. During the same quarter last year, the company earned $1.93 EPS. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts expect Arista Networks to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.
ANET stock opened at $248.90 on Tuesday. The company has a quick ratio of 5.17, a current ratio of 5.77 and a debt-to-equity ratio of 0.04. Arista Networks has a fifty-two week low of $187.08 and a fifty-two week high of $331.27. The firm’s 50-day simple moving average is $238.57 and its 200 day simple moving average is $255.84. The stock has a market cap of $18.34 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58.
ANET has been the topic of a number of analyst reports. Needham & Company LLC dropped their price objective on shares of Arista Networks to $340.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Credit Suisse Group reaffirmed a “buy” rating and issued a $312.00 price objective on shares of Arista Networks in a report on Thursday, October 24th. Goldman Sachs Group set a $290.00 price objective on shares of Arista Networks and gave the stock a “buy” rating in a report on Friday, August 30th. Zacks Investment Research cut shares of Arista Networks from a “buy” rating to a “hold” rating and set a $246.00 price objective on the stock. in a report on Tuesday, October 15th. Finally, Barclays initiated coverage on shares of Arista Networks in a report on Wednesday, August 7th. They issued an “overweight” rating and a $284.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $285.73.
In other news, SVP Kenneth Duda sold 10,876 shares of Arista Networks stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $224.30, for a total value of $2,439,486.80. Following the transaction, the senior vice president now owns 1,971 shares of the company’s stock, valued at approximately $442,095.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $276.94, for a total transaction of $553,880.00. Following the completion of the transaction, the senior vice president now directly owns 13,234 shares in the company, valued at approximately $3,665,023.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,986 shares of company stock worth $9,245,137. 23.83% of the stock is owned by corporate insiders.
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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