Brokerages Set Arista Networks, Inc. (NYSE:ANET) Price Target at $114.00

Arista Networks, Inc. (NYSE:ANET) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $114.00.

A number of research firms have commented on ANET. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th.

Arista Networks Stock Down 9.8 %

Shares of NYSE ANET opened at $64.28 on Friday. The business has a 50-day moving average price of $94.01 and a 200 day moving average price of $101.21. The stock has a market cap of $81.07 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Sell-side analysts anticipate that Arista Networks will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $48,840,431 in the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of large investors have recently bought and sold shares of the stock. Caitlin John LLC grew its holdings in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC lifted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Arista Networks by 300.0% during the fourth 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 last quarter. Finally, New Millennium Group LLC grew its position in shares of Arista Networks by 300.0% in 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 during the period. Institutional investors and hedge funds 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.