Arista Networks (NYSE:ANET) Coverage Initiated at The Goldman Sachs Group

Analysts at The Goldman Sachs Group assumed coverage on shares of Arista Networks (NYSE:ANET – Get Rating) in a research report issued to clients and investors on Monday, The Fly reports. The firm set a “buy” rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on ANET. Loop Capital lifted their price target on shares of Arista Networks from $181.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Credit Suisse Group upped their target price on Arista Networks from $140.00 to $146.00 and gave the stock a “neutral” rating in a report on Tuesday, February 14th. Cowen raised their price target on shares of Arista Networks from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, February 14th. Morgan Stanley upped their price target on Arista Networks from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 14th. Finally, StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Friday, February 17th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.89.

Arista Networks Price Performance

ANET opened at $142.87 on Monday. The company’s 50 day simple moving average is $127.57 and its 200-day simple moving average is $123.85. The stock has a market capitalization of $43.77 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. Arista Networks has a one year low of $89.11 and a one year high of $145.17.

Arista Networks (NYSE:ANET – Get Rating) last issued its earnings results on Monday, February 13th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.21 by $0.20. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. Arista Networks had a net margin of 30.87% and a return on equity of 30.00%. The business’s quarterly revenue was up 54.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. As a group, analysts anticipate that Arista Networks will post 5.15 EPS for the current year.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, December 12th. The stock was sold at an average price of $128.40, for a total value of $2,568,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $416,529.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $125.51, for a total value of $251,020.00. Following the completion of the transaction, the director now directly owns 86,946 shares of the company’s stock, valued at approximately $10,912,592.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $128.40, for a total transaction of $2,568,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $416,529.60. The disclosure for this sale can be found here. Insiders have sold 95,962 shares of company stock worth $12,424,639 over the last quarter. 19.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC bought a new position in Arista Networks in the fourth quarter valued at approximately $27,000. Janiczek Wealth Management LLC boosted its position in Arista Networks by 73.0% during the third quarter. Janiczek Wealth Management LLC now owns 275 shares of the technology company’s stock worth $30,000 after purchasing an additional 116 shares during the period. MV Capital Management Inc. increased its stake in shares of Arista Networks by 172.7% during the third quarter. MV Capital Management Inc. now owns 270 shares of the technology company’s stock worth $30,000 after purchasing an additional 171 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in Arista Networks by 126.7% in the 4th quarter. TCI Wealth Advisors Inc. now owns 297 shares of the technology company’s stock valued at $36,000 after purchasing an additional 166 shares during the period. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Arista Networks during the fourth quarter worth approximately $43,000. 64.30% of the stock is owned by institutional investors.

Arista Networks Company Profile

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.