Arista Networks, Inc. (NYSE:ANET) Given Average Rating of “Buy” by Analysts

Arista Networks, Inc. (NYSE:ANETGet Rating) has been assigned a consensus rating of “Buy” from the twenty-two analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $153.61.

A number of research firms have recently weighed in on ANET. Citigroup raised their price objective on Arista Networks from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, February 15th. Oppenheimer restated a “market perform” rating and set a $305.00 target price on shares of Arista Networks in a report on Wednesday, May 4th. Morgan Stanley lifted their price target on shares of Arista Networks from $138.00 to $144.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 15th. KeyCorp boosted their target price on Arista Networks from $165.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, February 15th. Finally, Zacks Investment Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating and set a $133.00 price objective on the stock. in a research report on Tuesday, April 19th.

Shares of ANET stock opened at $104.30 on Wednesday. Arista Networks has a fifty-two week low of $85.18 and a fifty-two week high of $148.57. The firm has a market cap of $32.15 billion, a P/E ratio of 35.72, a P/E/G ratio of 2.07 and a beta of 1.29. The business’s 50 day moving average price is $115.85 and its 200-day moving average price is $123.85.

Arista Networks (NYSE:ANETGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The technology company reported $0.84 EPS for the quarter, beating 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 quarter in the previous year, the firm earned $0.57 earnings per share. On average, research analysts forecast that Arista Networks will post 3.18 EPS for the current fiscal year.

In related news, CFO Ita M. Brennan sold 14,800 shares of Arista Networks stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $102.14, for a total value of $1,511,672.00. Following the sale, the chief financial officer now owns 43,615 shares of the company’s stock, valued at $4,454,836.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 1,040 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $140.33, for a total value of $145,943.20. The disclosure for this sale can be found here. Insiders sold a total of 562,820 shares of company stock worth $60,482,591 over the last quarter. Corporate insiders own 22.01% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Arista Networks by 316.3% in the 4th quarter. BlackRock Inc. now owns 17,330,539 shares of the technology company’s stock valued at $2,491,267,000 after buying an additional 13,167,098 shares during the last quarter. State Street Corp boosted its holdings in Arista Networks by 316.7% in the 4th quarter. State Street Corp now owns 8,893,510 shares of the technology company’s stock valued at $1,278,442,000 after purchasing an additional 6,759,436 shares during the period. Capital World Investors boosted its holdings in Arista Networks by 289.1% in the 4th quarter. Capital World Investors now owns 8,686,014 shares of the technology company’s stock valued at $1,248,615,000 after purchasing an additional 6,453,749 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Arista Networks by 303.5% during the 4th quarter. Alliancebernstein L.P. now owns 8,374,583 shares of the technology company’s stock worth $1,203,846,000 after acquiring an additional 6,299,163 shares during the last quarter. Finally, Eaton Vance Management lifted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Eaton Vance Management now owns 4,681,386 shares of the technology company’s stock worth $672,741,000 after acquiring an additional 3,511,113 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Arista Networks (NYSE:ANET)

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