Arista Networks Inc (NYSE:ANET)‘s stock had its “outperform” rating reissued by equities researchers at Oppenheimer Holdings Inc. in a report issued on Friday. They presently have a $142.00 target price on the stock, up from their prior target price of $120.00. Oppenheimer Holdings Inc.’s price objective would indicate a potential upside of 8.95% from the company’s current price.
ANET has been the subject of several other research reports. BMO Capital Markets reiterated a “buy” rating and set a $110.00 target price on shares of Arista Networks in a research report on Tuesday, December 13th. Vetr cut Arista Networks from a “strong-buy” rating to a “buy” rating and set a $103.07 target price for the company. in a research report on Tuesday, January 24th. Instinet increased their target price on Arista Networks from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. MKM Partners reiterated a “neutral” rating and set a $84.00 target price (down previously from $95.00) on shares of Arista Networks in a research report on Wednesday, January 18th. Finally, Stifel Nicolaus increased their target price on Arista Networks from $102.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks currently has an average rating of “Buy” and a consensus target price of $111.56.
Shares of Arista Networks (NYSE:ANET) opened at 130.33 on Friday. The company has a market cap of $9.25 billion, a P/E ratio of 52.13 and a beta of 1.15. The firm has a 50-day moving average price of $111.54 and a 200 day moving average price of $94.72. Arista Networks has a 12 month low of $57.89 and a 12 month high of $131.43.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 16th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.22. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The firm earned $328 million during the quarter, compared to analysts’ expectations of $315.40 million. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was up 33.6% on a year-over-year basis. Equities analysts predict that Arista Networks will post $3.74 earnings per share for the current year.
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In other news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $120.15, for a total value of $240,300.00. Following the completion of the sale, the senior vice president now directly owns 10,650 shares of the company’s stock, valued at approximately $1,279,597.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anshul Sadana sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $100.34, for a total value of $1,505,100.00. Following the completion of the sale, the insider now directly owns 192,664 shares of the company’s stock, valued at $19,331,905.76. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock valued at $2,194,850 over the last ninety days. Corporate insiders own 32.39% of the company’s stock.
Several large investors have recently modified their holdings of the company. Origin Asset Management LLP raised its stake in shares of Arista Networks by 70.9% in the fourth quarter. Origin Asset Management LLP now owns 143,850 shares of the company’s stock worth $13,920,000 after buying an additional 59,700 shares in the last quarter. Norges Bank acquired a new stake in shares of Arista Networks during the fourth quarter worth about $31,517,000. Pittenger & Anderson Inc. raised its stake in shares of Arista Networks by 255.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 1,935 shares of the company’s stock worth $187,000 after buying an additional 1,390 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Arista Networks by 0.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 88,709 shares of the company’s stock worth $8,584,000 after buying an additional 384 shares in the last quarter. Finally, Denver Investment Advisors LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth about $457,000. 54.94% of the stock is owned by hedge funds and other institutional investors.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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