Arista Networks (NYSE:ANET) Stock Price Expected to Rise, Barclays Analyst Says

Arista Networks (NYSE:ANET) had its price objective hoisted by investment analysts at Barclays from $125.00 to $126.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 13.47% from the stock’s previous close.

ANET has been the topic of several other reports. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research report on Tuesday. The Goldman Sachs Group boosted their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reissued a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.46.

Arista Networks Stock Performance

ANET stock opened at $111.05 on Wednesday. Arista Networks has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a market capitalization of $139.89 billion, a price-to-earnings ratio of 53.39, a price-to-earnings-growth ratio of 2.87 and a beta of 1.09. The business’s 50 day moving average price is $113.95 and its two-hundred day moving average price is $101.32.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Sell-side analysts forecast that Arista Networks will post 1.97 earnings per share for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 337,320 shares of company stock valued at $37,946,706 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Caitlin John LLC grew its stake in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the period. Cranbrook Wealth Management LLC increased its position in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont lifted its position in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC boosted its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.