Arista Networks (NYSE:ANET) Given New $138.00 Price Target at Barclays

Arista Networks (NYSE:ANETGet Rating) had its price objective cut by Barclays from $140.00 to $138.00 in a note issued to investors on Tuesday, The Fly reports. Barclays‘s price target indicates a potential upside of 16.69% from the stock’s previous close.

Several other analysts have also recently commented on the company. KeyCorp raised their price target on Arista Networks from $165.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, February 15th. Piper Sandler reduced their price target on Arista Networks from $139.00 to $133.00 in a report on Tuesday. Cowen raised their price target on Arista Networks from $134.00 to $151.00 and gave the company an “outperform” rating in a report on Tuesday, February 15th. Vertical Research raised Arista Networks from a “neutral” rating to a “buy” rating in a report on Thursday, January 27th. Finally, Loop Capital raised their price target on Arista Networks from $157.00 to $170.00 in a report on Tuesday, February 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $144.50.

Shares of ANET stock opened at $118.26 on Tuesday. The business’s 50 day moving average is $126.47 and its two-hundred day moving average is $128.84. Arista Networks has a twelve month low of $75.65 and a twelve month high of $148.57. The company has a market capitalization of $36.45 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28.

Arista Networks (NYSE:ANETGet Rating) last announced its earnings results on Monday, May 2nd. The technology company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.16. Arista Networks had a return on equity of 20.36% and a net margin of 28.52%. During the same period in the prior year, the company posted $0.57 EPS. Research analysts expect that Arista Networks will post 3.16 EPS for the current year.

In other news, SVP Kenneth Duda sold 40,000 shares of Arista Networks 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 completion of the sale, the senior vice president now owns 29,367 shares of the company’s stock, valued at $3,768,079.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andreas Bechtolsheim sold 100,000 shares of Arista Networks 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. Over the last three months, insiders sold 679,823 shares of company stock valued at $82,150,880. Insiders own 22.01% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. grew its position in Arista Networks by 96.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,584 shares of the technology company’s stock valued at $359,000 after acquiring an additional 1,271 shares during the period. JFS Wealth Advisors LLC grew its position in Arista Networks by 926.9% during the first quarter. JFS Wealth Advisors LLC now owns 267 shares of the technology company’s stock valued at $37,000 after acquiring an additional 241 shares during the period. National Asset Management Inc. grew its position in Arista Networks by 44.6% during the first quarter. National Asset Management Inc. now owns 9,031 shares of the technology company’s stock valued at $1,256,000 after acquiring an additional 2,786 shares during the period. Mutual of America Capital Management LLC grew its position in Arista Networks by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 29,939 shares of the technology company’s stock valued at $4,161,000 after acquiring an additional 319 shares during the period. Finally, Regentatlantic Capital LLC purchased a new stake in Arista Networks during the first quarter valued at about $323,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

About Arista Networks (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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