Arista Networks, Inc. (NYSE:ANET) Given Consensus Rating of “Moderate Buy” by Brokerages

Arista Networks, Inc. (NYSE:ANET – Get Rating) has been given an average recommendation of “Moderate Buy” by the twenty-one research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $173.89.

Several analysts recently weighed in on ANET shares. The Goldman Sachs Group started coverage on shares of Arista Networks in a report on Monday. They issued a “buy” rating for the company. Loop Capital lifted their target price on shares of Arista Networks from $181.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. Barclays boosted their price target on shares of Arista Networks from $165.00 to $177.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 14th. Piper Sandler dropped their price target on shares of Arista Networks from $164.00 to $155.00 in a research note on Tuesday, January 17th. Finally, Credit Suisse Group boosted their price target on shares of Arista Networks from $140.00 to $146.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 14th.

Arista Networks Stock Performance

ANET stock opened at $148.65 on Friday. The firm has a market cap of $45.54 billion, a PE ratio of 34.81, a PEG ratio of 1.96 and a beta of 1.24. The firm’s 50 day moving average price is $128.69 and its 200-day moving average price is $124.19. Arista Networks has a one year low of $89.11 and a one year high of $152.07.

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

Insider Activity at Arista Networks

In related news, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $122.91, for a total transaction of $127,826.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $122.91, for a total transaction of $127,826.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $416,529.60. The disclosure for this sale can be found here. In the last three months, insiders sold 96,962 shares of company stock valued at $12,568,639. Corporate insiders own 19.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Arista Networks by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,507,053 shares of the technology company’s stock worth $2,992,380,000 after acquiring an additional 770,172 shares in the last quarter. BlackRock Inc. raised its position in shares of Arista Networks by 4.3% during the 3rd quarter. BlackRock Inc. now owns 18,454,815 shares of the technology company’s stock worth $2,083,367,000 after buying an additional 755,445 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of Arista Networks by 2,389.3% during the 4th quarter. First Republic Investment Management Inc. now owns 12,400,805 shares of the technology company’s stock worth $1,504,838,000 after buying an additional 11,902,638 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Arista Networks by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 10,585,948 shares of the technology company’s stock worth $1,195,048,000 after purchasing an additional 32,867 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Arista Networks by 8.1% in the 3rd quarter. State Street Corp now owns 9,362,850 shares of the technology company’s stock worth $1,056,972,000 after purchasing an additional 700,606 shares during the last quarter. 64.30% of the stock is owned by institutional investors and hedge funds.

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.