Arista Networks (ANET) PT Lowered to $255.00 at JPMorgan Chase & Co.

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Arista Networks (NYSE:ANET) had its target price decreased by JPMorgan Chase & Co. to $255.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 12.94% from the company’s previous close.

ANET has been the subject of a number of other reports. William Blair reissued an “outperform” rating on shares of Arista Networks in a research note on Monday, September 17th. DA Davidson increased their price target on shares of Arista Networks from $300.00 to $312.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Credit Suisse Group set a $311.00 price target on shares of Arista Networks and gave the stock a “buy” rating in a research note on Thursday, October 4th. Goldman Sachs Group downgraded shares of Arista Networks from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Finally, Zacks Investment Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $303.00 price target for the company in a research note on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Arista Networks currently has a consensus rating of “Buy” and an average target price of $287.41.

Shares of NYSE:ANET opened at $225.79 on Thursday. The stock has a market cap of $19.89 billion, a PE ratio of 48.56, a PEG ratio of 1.95 and a beta of 1.48. The company has a quick ratio of 2.87, a current ratio of 3.17 and a debt-to-equity ratio of 0.02. Arista Networks has a 12 month low of $177.92 and a 12 month high of $313.37.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.50 by $0.43. Arista Networks had a net margin of 28.07% and a return on equity of 28.51%. The firm had revenue of $519.85 million during the quarter, compared to the consensus estimate of $509.62 million. During the same period in the prior year, the firm posted $1.34 earnings per share. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. On average, equities analysts anticipate that Arista Networks will post 6.43 earnings per share for the current year.

In other news, Director Nikos Theodosopoulos sold 110 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $273.27, for a total transaction of $30,059.70. Following the sale, the director now owns 2,073 shares in the company, valued at $566,488.71. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 11,000 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $268.73, for a total transaction of $2,956,030.00. Following the sale, the senior vice president now owns 1,845 shares in the company, valued at approximately $495,806.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,820 shares of company stock worth $61,827,581. Corporate insiders own 24.95% of the company’s stock.

Several large investors have recently bought and sold shares of ANET. Dimensional Fund Advisors LP grew its holdings in shares of Arista Networks by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 202,954 shares of the technology company’s stock valued at $51,814,000 after buying an additional 1,472 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Arista Networks by 3.9% during the first quarter. Stifel Financial Corp now owns 9,381 shares of the technology company’s stock valued at $2,395,000 after buying an additional 354 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Arista Networks by 28.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,100 shares of the technology company’s stock valued at $1,047,000 after buying an additional 900 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Arista Networks by 4.6% during the first quarter. Principal Financial Group Inc. now owns 8,202 shares of the technology company’s stock valued at $2,094,000 after buying an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Arista Networks by 11.1% during the first quarter. Nomura Asset Management Co. Ltd. now owns 6,200 shares of the technology company’s stock valued at $1,583,000 after buying an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 54.71% of the company’s stock.

About Arista Networks

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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