Arista Networks (NYSE:ANET) Rating Reiterated by Oppenheimer

Arista Networks (NYSE:ANETGet Rating)‘s stock had its “market perform” rating reiterated by investment analysts at Oppenheimer in a research report issued to clients and investors on Wednesday. They presently have a $305.00 price objective on the technology company’s stock. Oppenheimer’s price target points to a potential upside of 167.47% from the stock’s previous close.

Several other research analysts have also weighed in on ANET. Zacks Investment Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating and set a $133.00 target price for the company. in a research note on Tuesday, April 19th. Loop Capital increased their target price on shares of Arista Networks from $157.00 to $170.00 in a research note on Tuesday, February 15th. Piper Sandler lowered their target price on shares of Arista Networks from $139.00 to $133.00 in a research note on Tuesday. KeyCorp increased their target price on shares of Arista Networks from $165.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 15th. Finally, Cowen increased their target price on shares of Arista Networks from $151.00 to $154.00 in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $153.61.

Shares of ANET opened at $114.03 on Wednesday. Arista Networks has a 12-month low of $75.65 and a 12-month high of $148.57. The firm has a 50-day moving average price of $126.39 and a 200 day moving average price of $128.74. The firm has a market capitalization of $35.14 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.38 and a beta of 1.28.

Arista Networks (NYSE:ANETGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. Arista Networks had a net margin of 28.52% and a return on equity of 20.36%. During the same period last year, the company earned $0.57 earnings per share. As a group, equities analysts anticipate that Arista Networks will post 3.16 EPS for the current year.

In other Arista Networks news, CFO Ita M. Brennan sold 14,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $119.40, for a total transaction of $1,767,120.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 10th. The stock was sold at an average price of $128.36, for a total transaction of $5,134,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 679,823 shares of company stock worth $82,150,880. 22.01% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. ACG Wealth grew its position in shares of Arista Networks by 145.1% during the fourth quarter. ACG Wealth now owns 12,291 shares of the technology company’s stock worth $1,767,000 after acquiring an additional 7,276 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Arista Networks by 527.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 51,825 shares of the technology company’s stock valued at $7,450,000 after buying an additional 43,563 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in Arista Networks in the 4th quarter valued at $1,847,000. JJJ Advisors Inc. grew its position in Arista Networks by 300.0% in the 4th quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock valued at $28,000 after buying an additional 147 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Arista Networks by 326.5% in the 4th quarter. Van ECK Associates Corp now owns 21,795 shares of the technology company’s stock valued at $3,133,000 after buying an additional 16,685 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

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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