Arista Networks (NYSE:ANET) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Arista Networks (NYSE:ANET – Get Rating) from a hold rating to a buy rating in a research note published on Wednesday.

A number of other analysts have also weighed in on ANET. Evercore ISI raised their target price on shares of Arista Networks from $135.00 to $145.00 and gave the company an outperform rating in a research report on Tuesday. Oppenheimer restated a market perform rating and issued a $305.00 target price on shares of Arista Networks in a research report on Wednesday, May 4th. Cowen raised their target price on shares of Arista Networks from $154.00 to $163.00 and gave the company an outperform rating in a research report on Tuesday. Cowen raised their target price on shares of Arista Networks from $151.00 to $154.00 in a research report on Tuesday, May 3rd. Finally, Morgan Stanley cut their price target on shares of Arista Networks from $144.00 to $114.00 and set an equal weight rating on the stock in a report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $157.53.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $126.68 on Wednesday. The company’s 50 day simple moving average is $101.91 and its 200 day simple moving average is $114.69. The stock has a market capitalization of $39.05 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 2.00 and a beta of 1.35. Arista Networks has a 1 year low of $85.18 and a 1 year high of $148.57.

Arista Networks (NYSE:ANET – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $979.66 million. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The firm’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. As a group, analysts anticipate that Arista Networks will post 3.28 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 6,779 shares of Arista Networks stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $102.32, for a total value of $693,627.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ita M. Brennan sold 14,800 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $102.14, for a total transaction of $1,511,672.00. Following the completion of the sale, the chief financial officer now directly owns 43,615 shares of the company’s stock, valued at $4,454,836.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Marc Taxay sold 6,779 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $102.32, for a total transaction of $693,627.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 530,320 shares of company stock valued at $54,800,753. Corporate insiders own 19.59% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Asset Dedication LLC bought a new stake in shares of Arista Networks during the first quarter worth about $25,000. Riverview Trust Co bought a new stake in shares of Arista Networks during the first quarter worth about $26,000. JJJ Advisors Inc. boosted its holdings in 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 purchasing an additional 147 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Arista Networks by 300.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the technology company’s stock worth $29,000 after purchasing an additional 150 shares during the last quarter. Finally, Addison Advisors LLC purchased a new position in Arista Networks during the first quarter worth about $28,000. 67.10% of the stock is owned by institutional investors.

Arista Networks Company Profile

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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.