Wall Street brokerages predict that Arista Networks Inc (NYSE:ANET) will report earnings of $1.85 per share for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Arista Networks’ earnings, with estimates ranging from $1.69 to $1.97. Arista Networks posted earnings of $1.62 per share in the same quarter last year, which suggests a positive year over year growth rate of 14.2%. The firm is expected to report its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Arista Networks will report full year earnings of $7.38 per share for the current financial year, with EPS estimates ranging from $6.98 to $7.64. For the next fiscal year, analysts expect that the business will report earnings of $8.52 per share, with EPS estimates ranging from $7.00 to $9.40. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Arista Networks.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, August 2nd. The technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.43. The firm had revenue of $519.85 million for the quarter, compared to the consensus estimate of $509.62 million. Arista Networks had a return on equity of 28.51% and a net margin of 28.07%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 earnings per share.
Several research firms have issued reports on ANET. DA Davidson increased their target price on Arista Networks from $300.00 to $312.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $303.00 target price on the stock in a research report on Tuesday, July 10th. Credit Suisse Group set a $303.00 target price on Arista Networks and gave the stock a “buy” rating in a research report on Friday, June 29th. JPMorgan Chase & Co. restated a “hold” rating on shares of Arista Networks in a research report on Tuesday, May 8th. Finally, Morgan Stanley downgraded Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 target price on the stock. in a research report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $280.59.
In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $256.49, for a total transaction of $512,980.00. Following the sale, the senior vice president now owns 15,370 shares in the company, valued at $3,942,251.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nikos Theodosopoulos sold 110 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $273.27, for a total value of $30,059.70. Following the sale, the director now owns 2,073 shares in the company, valued at approximately $566,488.71. The disclosure for this sale can be found here. Insiders sold 266,820 shares of company stock worth $78,771,211 in the last quarter. 24.95% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Three Peaks Capital Management LLC bought a new position in shares of Arista Networks during the first quarter valued at about $101,000. Group One Trading L.P. bought a new position in shares of Arista Networks during the first quarter valued at about $102,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Arista Networks during the second quarter valued at about $129,000. Signet Financial Management LLC bought a new position in shares of Arista Networks during the second quarter valued at about $142,000. Finally, Cerebellum GP LLC bought a new position in shares of Arista Networks during the second quarter valued at about $159,000. Institutional investors and hedge funds own 54.72% of the company’s stock.
Shares of NYSE:ANET traded down $17.53 during trading on Friday, hitting $272.29. 1,809,300 shares of the company were exchanged, compared to its average volume of 1,115,471. The company has a market cap of $22.37 billion, a P/E ratio of 58.93, a P/E/G ratio of 2.19 and a beta of 1.45. Arista Networks has a 52-week low of $169.61 and a 52-week high of $313.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.17 and a quick ratio of 2.87.
Arista Networks Company Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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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