Shares of Arista Networks Inc (NYSE:ANET) have been assigned an average rating of “Buy” from the twenty-six brokerages that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $315.27.
ANET has been the topic of several recent analyst reports. ValuEngine cut shares of Arista Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Goldman Sachs Group lifted their target price on shares of Arista Networks from $300.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Nomura raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Friday, January 18th. Gabelli raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $279.00 target price on the stock in a research report on Tuesday, February 19th. Finally, Macquarie set a $325.00 target price on shares of Arista Networks and gave the stock a “buy” rating in a research report on Friday, May 3rd.
In related news, SVP Kenneth Duda sold 11,874 shares of Arista Networks stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $280.68, for a total value of $3,332,794.32. Following the completion of the transaction, the senior vice president now directly owns 4,545 shares in the company, valued at approximately $1,275,690.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $285.81, for a total transaction of $571,620.00. Following the completion of the transaction, the senior vice president now owns 16,173 shares of the company’s stock, valued at $4,622,405.13. The disclosure for this sale can be found here. Insiders sold a total of 245,065 shares of company stock valued at $72,650,653 over the last quarter. 23.83% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ANET. Vanguard Group Inc grew its stake in Arista Networks by 21.1% in the 3rd quarter. Vanguard Group Inc now owns 5,432,205 shares of the technology company’s stock valued at $1,444,206,000 after buying an additional 946,977 shares in the last quarter. Norges Bank purchased a new position in Arista Networks in the 4th quarter valued at approximately $116,281,000. Swedbank purchased a new position in Arista Networks in the 1st quarter valued at approximately $152,582,000. Artisan Partners Limited Partnership purchased a new position in Arista Networks in the 1st quarter valued at approximately $132,213,000. Finally, FMR LLC grew its stake in Arista Networks by 25.1% in the 1st quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock valued at $615,319,000 after buying an additional 392,021 shares in the last quarter. Institutional investors and hedge funds own 57.15% of the company’s stock.
ANET stock traded down $3.50 during mid-day trading on Friday, reaching $250.12. 1,309,700 shares of the company traded hands, compared to its average volume of 949,045. The company has a market capitalization of $19.06 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 1.55 and a beta of 1.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34. Arista Networks has a fifty-two week low of $187.08 and a fifty-two week high of $331.27.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.24. The business had revenue of $595.42 million during the quarter, compared to the consensus estimate of $595.21 million. Arista Networks had a return on equity of 29.36% and a net margin of 30.36%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 EPS. As a group, sell-side analysts forecast that Arista Networks will post 8.43 earnings per share for the current fiscal year.
Arista Networks Company Profile
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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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