Arista Networks Inc (NYSE:ANET)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Co in a research note issued to investors on Thursday.
Several other equities analysts have also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Arista Networks in a report on Thursday, April 6th. Stifel Nicolaus cut Arista Networks from a “buy” rating to a “hold” rating and raised their price target for the company from $130.00 to $135.00 in a report on Monday, April 3rd. They noted that the move was a valuation call. Gabelli reiterated a “buy” rating on shares of Arista Networks in a report on Sunday, April 2nd. Goldman Sachs Group Inc upgraded Arista Networks from a “sell” rating to a “neutral” rating and raised their price target for the company from $68.00 to $125.00 in a report on Monday, March 27th. Finally, Citigroup Inc raised their price target on Arista Networks from $115.00 to $150.00 and gave the company a “buy” rating in a report on Friday, March 24th. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $119.68.
Arista Networks (NYSE:ANET) traded down 0.055% during trading on Thursday, reaching $136.395. 318,331 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $129.58 and its 200-day moving average price is $103.00. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 54.558 and a beta of 1.15. Arista Networks has a 52-week low of $60.51 and a 52-week high of $137.09.
Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, February 16th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.82 by $0.22. The company had revenue of $328 million for the quarter, compared to analysts’ expectations of $315.40 million. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The business’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. Equities analysts expect that Arista Networks will post $3.77 earnings per share for the current year.
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In other Arista Networks news, insider Anshul Sadana sold 21,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $130.00, for a total value of $2,730,000.00. Following the completion of the transaction, the insider now directly owns 103,524 shares in the company, valued at $13,458,120. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 owns 10,650 shares of the company’s stock, valued at $1,279,597.50. The disclosure for this sale can be found here. In the last three months, insiders sold 25,000 shares of company stock worth $3,233,600. 32.39% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado increased its position in shares of Arista Networks by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,257 shares of the technology company’s stock valued at $107,000 after buying an additional 5 shares in the last quarter. Flinton Capital Management LLC acquired a new position in shares of Arista Networks during the fourth quarter valued at approximately $153,000. Affinity Wealth Management acquired a new position in shares of Arista Networks during the first quarter valued at approximately $256,000. Pittenger & Anderson Inc. increased its position in shares of Arista Networks by 255.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 1,935 shares of the technology company’s stock valued at $187,000 after buying an additional 1,390 shares in the last quarter. Finally, Comerica Bank acquired a new position in shares of Arista Networks during the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 54.94% of the company’s stock.
About Arista Networks
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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