Zacks: Brokerages Anticipate Arista Networks, Inc. (NYSE:ANET) Will Post Earnings of $0.81 Per Share

Analysts expect Arista Networks, Inc. (NYSE:ANETGet Rating) to post $0.81 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Arista Networks’ earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.80. Arista Networks posted earnings of $0.63 per share during the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The business is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Arista Networks will report full year earnings of $3.69 per share for the current year, with EPS estimates ranging from $3.55 to $3.90. For the next fiscal year, analysts expect that the business will post earnings of $4.23 per share, with EPS estimates ranging from $3.91 to $4.50. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Arista Networks.

Arista Networks (NYSE:ANETGet Rating) last posted its earnings results on Monday, February 14th. The technology company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.06. The company had revenue of $824.46 million during the quarter, compared to analyst estimates of $790.40 million. Arista Networks had a return on equity of 20.36% and a net margin of 28.52%. The business’s revenue was up 27.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share.

ANET has been the subject of several recent research reports. Credit Suisse Group upped their target price on Arista Networks from $166.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, February 15th. Morgan Stanley boosted their price objective on Arista Networks from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 15th. StockNews.com initiated coverage on Arista Networks in a research report on Thursday, March 31st. They set a “hold” rating for the company. KeyCorp boosted their price objective on Arista Networks from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 15th. Finally, Wells Fargo & Company upgraded Arista Networks from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $142.00 to $160.00 in a research report on Thursday, March 10th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $145.24.

In other Arista Networks news, SVP Kenneth Duda sold 40,000 shares of the company’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $128.31, for a total value of $5,132,400.00. Following the transaction, the senior vice president now owns 29,367 shares of the company’s stock, valued at $3,768,079.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andreas Bechtolsheim sold 100,000 shares of the company’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $121.73, for a total value of $12,173,000.00. The disclosure for this sale can be found here. Insiders sold 700,195 shares of company stock worth $84,653,991 in the last ninety days. 22.01% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. ACG Wealth raised its stake in Arista Networks by 145.1% during the 4th quarter. ACG Wealth now owns 12,291 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 7,276 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Arista Networks during the 4th quarter valued at $1,847,000. JJJ Advisors Inc. raised its stake in Arista Networks by 300.0% during the 4th quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock valued at $28,000 after purchasing an additional 147 shares during the period. Van ECK Associates Corp raised its stake in Arista Networks by 326.5% during the 4th quarter. Van ECK Associates Corp now owns 21,795 shares of the technology company’s stock valued at $3,133,000 after purchasing an additional 16,685 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Arista Networks by 283.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 631,417 shares of the technology company’s stock valued at $90,766,000 after purchasing an additional 466,964 shares during the period. 29.34% of the stock is currently owned by institutional investors.

Shares of NYSE:ANET traded down $4.79 during trading on Friday, hitting $126.58. 1,574,246 shares of the company traded hands, compared to its average volume of 1,835,197. The stock has a market capitalization of $38.96 billion, a price-to-earnings ratio of 47.99, a PEG ratio of 2.61 and a beta of 1.22. The business’s fifty day moving average is $127.77 and its 200-day moving average is $126.10. Arista Networks has a one year low of $75.65 and a one year high of $148.57.

Arista Networks Company Profile (Get Rating)

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.

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