William Blair Comments on Arista Networks, Inc.’s FY2022 Earnings (NYSE:ANET)

Arista Networks, Inc. (NYSE:ANETGet Rating) – Stock analysts at William Blair increased their FY2022 earnings estimates for Arista Networks in a research report issued to clients and investors on Tuesday, August 2nd. William Blair analyst J. Ader now anticipates that the technology company will post earnings per share of $3.48 for the year, up from their previous estimate of $3.13. The consensus estimate for Arista Networks’ current full-year earnings is $3.18 per share.

Arista Networks (NYSE:ANETGet Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $979.66 million. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 earnings per share.

Other equities research analysts also recently issued reports about the stock. Piper Sandler lifted their price target on shares of Arista Networks from $108.00 to $125.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays decreased their price target on shares of Arista Networks from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Tuesday. Cowen lifted their price target on shares of Arista Networks from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup lifted their price target on shares of Arista Networks from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Arista Networks from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.53.

Arista Networks Stock Up 1.1 %

ANET opened at $123.06 on Thursday. Arista Networks has a twelve month low of $85.18 and a twelve month high of $148.57. The company has a fifty day moving average of $101.50 and a 200-day moving average of $114.69. The stock has a market cap of $37.93 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35.

Institutional Trading of Arista Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Asset Dedication LLC bought a new position in shares of Arista Networks in the 1st quarter worth $25,000. Riverview Trust Co bought a new position in shares of Arista Networks in the 1st quarter worth $26,000. JJJ Advisors Inc. increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock worth $28,000 after buying an additional 147 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the technology company’s stock worth $29,000 after buying an additional 150 shares during the last quarter. Finally, Addison Advisors LLC bought a new position in shares of Arista Networks in the 1st quarter worth $28,000. Institutional investors own 67.10% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 6,660 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $117.03, for a total value of $779,419.80. Following the transaction, the director now directly owns 98,946 shares in the company, valued at $11,579,650.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $107.74, for a total transaction of $2,154,800.00. Following the sale, the senior vice president now directly owns 29,367 shares in the company, valued at approximately $3,164,000.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 6,660 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $117.03, for a total transaction of $779,419.80. Following the sale, the director now owns 98,946 shares in the company, valued at $11,579,650.38. The disclosure for this sale can be found here. Insiders have sold a total of 530,320 shares of company stock worth $54,800,753 over the last three months. 19.59% of the stock is currently owned by insiders.

About Arista Networks

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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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