Arista Networks, Inc. (NYSE:ANET) Receives Consensus Rating of “Moderate Buy” from Brokerages

Arista Networks, Inc. (NYSE:ANET) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $104.29.

ANET has been the subject of several recent research reports. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Rosenblatt Securities lowered their target price on shares of Arista Networks from $85.00 to $55.00 and set a “sell” rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered their target price on shares of Arista Networks from $118.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Evercore ISI reduced their price target on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,500,155.36. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the sale, the director now directly owns 7,480 shares of the company’s stock, valued at approximately $512,305.20. The trade was a 16.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 412,355 shares of company stock valued at $39,446,799. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitlin John LLC lifted its stake in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in shares of Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company’s stock valued at $28,000 after buying an additional 230 shares in 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 valued at $29,000 after buying an additional 198 shares in the last quarter. Finally, Trust Co. of Vermont lifted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

NYSE:ANET opened at $77.96 on Wednesday. Arista Networks has a one year low of $59.43 and a one year high of $133.58. The company’s 50-day simple moving average is $80.57 and its 200 day simple moving average is $98.31. The firm has a market capitalization of $97.89 billion, a P/E ratio of 35.12, a PEG ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, equities research analysts expect that Arista Networks will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

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.