Q2 2022 EPS Estimates for Arista Networks, Inc. (NYSE:ANET) Boosted by Jefferies Financial Group

Arista Networks, Inc. (NYSE:ANETGet Rating) – Stock analysts at Jefferies Financial Group increased their Q2 2022 EPS estimates for Arista Networks in a research report issued to clients and investors on Tuesday, May 3rd. Jefferies Financial Group analyst G. Notter now expects that the technology company will earn $0.77 per share for the quarter, up from their previous forecast of $0.75. Jefferies Financial Group also issued estimates for Arista Networks’ Q3 2023 earnings at $0.94 EPS, Q4 2023 earnings at $1.02 EPS and FY2023 earnings at $3.61 EPS.

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, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. Arista Networks had a return on equity of 21.58% and a net margin of 29.54%. During the same quarter last year, the business earned $0.57 earnings per share.

ANET has been the subject of several other reports. Cowen boosted their target price on shares of Arista Networks from $151.00 to $154.00 in a research report on Tuesday. Piper Sandler cut their price objective on Arista Networks from $139.00 to $133.00 in a research report on Tuesday. Loop Capital increased their price objective on Arista Networks from $157.00 to $170.00 in a research report on Tuesday, February 15th. StockNews.com raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, April 26th. Finally, Oppenheimer reiterated a “market perform” rating and set a $305.00 target price on shares of Arista Networks in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $153.61.

ANET opened at $117.79 on Thursday. The company has a market capitalization of $36.30 billion, a PE ratio of 40.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.28. Arista Networks has a fifty-two week low of $77.30 and a fifty-two week high of $148.57. The business has a 50-day moving average of $126.33 and a 200-day moving average of $128.66.

In other Arista Networks news, insider John F. Mccool sold 9,783 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $118.37, for a total value of $1,158,013.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 40,000 shares of Arista Networks stock in a transaction 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. Insiders have sold a total of 688,527 shares of company stock valued at $83,163,747 in the last quarter. Corporate insiders own 22.01% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANET. Asset Dedication LLC acquired a new position in shares of Arista Networks in the 1st quarter valued at approximately $25,000. MUFG Americas Holdings Corp acquired a new position in shares of Arista Networks in the third quarter valued at approximately $26,000. Riverview Trust Co acquired a new position in shares of Arista Networks in the first quarter valued at approximately $26,000. Huntington National Bank increased its position in shares of Arista Networks by 300.0% during the fourth quarter. Huntington National Bank now owns 188 shares of the technology company’s stock worth $27,000 after acquiring an additional 141 shares in the last quarter. Finally, JJJ Advisors Inc. raised its holdings in shares of Arista Networks by 300.0% during the fourth quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock worth $28,000 after acquiring an additional 147 shares during the period. 67.10% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Arista Networks (NYSE:ANET)

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