Somewhat Favorable Press Coverage Very Unlikely to Affect Arista Networks (ANET) Stock Price

News stories about Arista Networks (NYSE:ANET) have been trending somewhat positive on Saturday, AlphaOne Sentiment reports. AlphaOne, a service of Accern, identifies positive and negative media coverage by monitoring more than twenty million news and blog sources in real time. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Arista Networks earned a media sentiment score of 0.19 on AlphaOne’s scale. AlphaOne also assigned press coverage about the technology company an impact score of 25 out of 100, indicating that recent media coverage is very unlikely to have an impact on the company’s share price in the immediate future.

Here are some of the media headlines that may have impacted Alpha One Sentiment Analysis’s rankings:

Several research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. FBN Securities upped their price objective on shares of Arista Networks from $125.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Cowen and Company upped their price objective on shares of Arista Networks from $123.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. CIBC restated a “buy” rating and set a $160.00 price objective on shares of Arista Networks in a report on Monday, May 15th. Finally, MKM Partners restated a “neutral” rating and set a $125.00 price objective (up previously from $100.00) on shares of Arista Networks in a report on Tuesday, May 9th. Fourteen investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Arista Networks has an average rating of “Buy” and an average price target of $128.52.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.09. The company had revenue of $335.48 million during the quarter, compared to the consensus estimate of $326.19 million. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The firm’s revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS.

In other Arista Networks news, insider Jayshree Ullal sold 52,033 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $147.40, for a total value of $7,669,664.20. Following the completion of the transaction, the insider now directly owns 1,288 shares in the company, valued at approximately $189,851.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anshul Sadana sold 21,000 shares of the company’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 owns 103,524 shares of the company’s stock, valued at $13,458,120. The disclosure for this sale can be found here. Insiders sold a total of 294,164 shares of company stock valued at $42,532,109 over the last 90 days. 32.39% of the stock is currently owned by corporate insiders.

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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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