Weekly Investment Analysts’ Ratings Updates for Arista Networks (ANET)

Several analysts have recently updated their ratings and price targets for Arista Networks (NYSE: ANET):

  • 5/5/2022 – Arista Networks was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 5/4/2022 – Arista Networks had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $305.00 price target on the stock.
  • 5/3/2022 – Arista Networks had its price target raised by analysts at Cowen Inc. from $151.00 to $154.00.
  • 5/3/2022 – Arista Networks had its price target raised by analysts at Cowen Inc from $151.00 to $154.00.
  • 5/3/2022 – Arista Networks had its price target lowered by analysts at Barclays PLC from $140.00 to $138.00.
  • 5/3/2022 – Arista Networks had its price target lowered by analysts at Piper Sandler from $139.00 to $133.00.
  • 4/26/2022 – Arista Networks was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 4/19/2022 – Arista Networks was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. They now have a $133.00 price target on the stock. According to Zacks, “Arista continues to benefit from solid demand for its client-to-cloud networking portfolio across all sectors. The company has expanded its cognitive campus edge portfolio with a new Wi-Fi 6E access point, delivering greater capacity, higher bandwidth and lower latency of Wi-Fi 6E to support high-definition video collaboration applications. Arista holds a leadership position in 100-gigabit Ethernet switching and is increasingly gaining traction in 200-, and 400-gig high-performance switching products. However, the company expects near-term volatility to continue despite the underlying strength of business model and diligent execution of operational strategies. It expects revenue growth to be muted with near saturation levels in the existing customer base and product markets. Redesigning of products and supply chain mechanism have eroded margins.”
  • 3/31/2022 – Arista Networks is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/15/2022 – Arista Networks was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

NYSE ANET traded up $1.04 during trading on Wednesday, reaching $106.15. The company’s stock had a trading volume of 5,779 shares, compared to its average volume of 2,076,539. The stock has a market capitalization of $32.72 billion, a PE ratio of 36.35, a P/E/G ratio of 2.21 and a beta of 1.28. The firm has a fifty day moving average of $125.18 and a 200 day moving average of $129.15. Arista Networks, Inc. has a one year low of $78.33 and a one year high of $148.57.

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, topping analysts’ consensus estimates of $0.81 by $0.03. Arista Networks had a return on equity of 21.16% and a net margin of 29.54%. During the same period last year, the company posted $0.57 EPS. As a group, equities analysts forecast that Arista Networks, Inc. will post 3.18 earnings per share for the current year.

In other news, SVP Marc Taxay sold 9,621 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $119.19, for a total value of $1,146,726.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $128.36, for a total value of $5,134,400.00. The disclosure for this sale can be found here. Insiders sold a total of 690,195 shares of company stock valued at $83,352,899 over the last quarter. Company insiders own 22.01% of the company’s stock.

A number of hedge funds have recently modified their holdings of ANET. Advisor Group Holdings Inc. boosted its holdings in Arista Networks by 3.8% during the 3rd quarter. Advisor Group Holdings Inc. now owns 16,527 shares of the technology company’s stock valued at $5,687,000 after acquiring an additional 606 shares during the period. Mackenzie Financial Corp boosted its holdings in Arista Networks by 92.5% during the 3rd quarter. Mackenzie Financial Corp now owns 13,077 shares of the technology company’s stock valued at $4,494,000 after acquiring an additional 6,282 shares during the period. JustInvest LLC boosted its holdings in Arista Networks by 10.2% during the 3rd quarter. JustInvest LLC now owns 1,290 shares of the technology company’s stock valued at $443,000 after acquiring an additional 119 shares during the period. Jennison Associates LLC purchased a new stake in Arista Networks during the 3rd quarter valued at about $844,000. Finally, Bank of The West purchased a new stake in Arista Networks during the 3rd quarter valued at about $344,000. Institutional investors own 67.10% of the company’s stock.

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.

See Also

Receive News & Ratings for Arista Networks Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc and related companies with MarketBeat.com's FREE daily email newsletter.