Arista Networks Inc (NYSE:ANET) had its target price raised by analysts at Deutsche Bank AG from $130.00 to $140.00 in a report released on Thursday. The firm presently has a “buy” rating on the technology company’s stock. Deutsche Bank AG’s price target suggests a potential upside of 2.59% from the stock’s previous close.
ANET has been the topic of a number of other reports. Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, January 3rd. Wells Fargo & Co reiterated an “outperform” rating on shares of Arista Networks in a report on Tuesday, January 10th. Vetr downgraded shares of Arista Networks from a “strong-buy” rating to a “buy” rating and set a $103.07 target price for the company. in a report on Tuesday, January 24th. Barclays PLC increased their target price on shares of Arista Networks from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, December 7th. Finally, Morgan Stanley downgraded shares of Arista Networks from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $88.00 to $94.00 in a report on Monday, December 5th. They noted that the move was a valuation call. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $119.68.
Arista Networks (NYSE:ANET) traded up 1.97% during trading on Thursday, reaching $136.47. The company had a trading volume of 722,207 shares. Arista Networks has a 52-week low of $60.51 and a 52-week high of $137.09. The company has a 50-day moving average of $129.58 and a 200-day moving average of $103.00. The firm has a market capitalization of $9.69 billion, a P/E ratio of 54.59 and a beta of 1.15.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 16th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.22. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The firm had revenue of $328 million for the quarter, compared to analyst estimates of $315.40 million. During the same period last year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. Analysts expect that Arista Networks will post $3.77 EPS for the current fiscal 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 shares were sold at an average price of $120.15, for a total value of $240,300.00. Following the completion of the transaction, the senior vice president now directly owns 10,650 shares in the company, valued at $1,279,597.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anshul Sadana sold 21,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $130.00, for a total transaction of $2,730,000.00. Following the completion of the transaction, the insider now owns 103,524 shares of the company’s stock, valued at $13,458,120. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock valued at $3,233,600 in the last quarter. Company insiders own 32.39% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its position in Arista Networks by 950.7% in the third quarter. BNP Paribas Arbitrage SA now owns 7,334 shares of the technology company’s stock worth $624,000 after buying an additional 6,636 shares during the period. Morgens Waterfall Vintiadis & Co. Inc. purchased a new position in Arista Networks during the third quarter worth approximately $2,042,000. D. Scott Neal Inc. bought a new stake in shares of Arista Networks during the third quarter valued at about $128,000. California Public Employees Retirement System bought a new stake in shares of Arista Networks during the third quarter valued at about $2,978,000. Finally, Sumitomo Life Insurance Co. bought a new stake in shares of Arista Networks during the third quarter valued at about $1,311,000. Institutional investors own 54.94% of the company’s stock.
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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