Arista Networks, Inc. (NYSE:ANET) Receives Consensus Rating of “Moderate Buy” from Analysts

Arista Networks, Inc. (NYSE:ANET) has received an average recommendation of “Moderate Buy” from the twenty-three analysts that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $163.5625.

ANET has been the subject of a number of analyst reports. Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Arista Networks in a report on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating and issued a $183.00 price target (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research note on Thursday, September 25th. Finally, Piper Sandler restated a “neutral” rating and set a $145.00 target price (up from $143.00) on shares of Arista Networks in a research report on Wednesday, November 5th.

Arista Networks Stock Up 0.9%

Shares of ANET stock opened at $131.92 on Monday. The firm has a market cap of $166.13 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 2.52 and a beta of 1.41. Arista Networks has a 52-week low of $59.43 and a 52-week high of $164.94. The company’s 50 day moving average is $135.01 and its 200 day moving average is $129.44.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the firm earned $2.40 EPS. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. Analysts anticipate that Arista Networks will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Friday, October 17th. The shares were sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the completion of the sale, the insider directly owned 12,976 shares in the company, valued at $1,852,324. This represents a 69.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 216,464 shares of company stock valued at $28,598,588. 3.54% of the stock is owned by company insiders.

Institutional Trading of Arista Networks

Several institutional investors have recently modified their holdings of ANET. Mirabella Financial Services LLP lifted its stake in Arista Networks by 136.8% in the 3rd quarter. Mirabella Financial Services LLP now owns 23,688 shares of the technology company’s stock valued at $3,445,000 after buying an additional 13,683 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Arista Networks by 8.3% in the third quarter. IFP Advisors Inc now owns 7,659 shares of the technology company’s stock valued at $1,116,000 after acquiring an additional 584 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Arista Networks by 8.8% in the third quarter. Swiss Life Asset Management Ltd now owns 421,851 shares of the technology company’s stock valued at $61,468,000 after acquiring an additional 34,258 shares in the last quarter. Tevis Investment Management boosted its stake in shares of Arista Networks by 10.9% in the third quarter. Tevis Investment Management now owns 4,697 shares of the technology company’s stock worth $684,000 after acquiring an additional 461 shares during the last quarter. Finally, Cantor Fitzgerald L. P. increased its position in shares of Arista Networks by 139.3% during the third quarter. Cantor Fitzgerald L. P. now owns 21,250 shares of the technology company’s stock worth $3,096,000 after purchasing an additional 12,370 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.