Deutsche Bank Reiterates “Buy” Rating for Arista Networks (ANET)

Deutsche Bank restated their buy rating on shares of Arista Networks (NYSE:ANET) in a report issued on Friday morning. They currently have a $250.00 price objective on the technology company’s stock.

Several other research analysts have also commented on the company. BidaskClub upgraded Arista Networks from a buy rating to a strong-buy rating in a report on Tuesday, October 31st. Royal Bank Of Canada raised Arista Networks from a sector perform rating to an outperform rating in a research report on Wednesday, November 8th. JMP Securities raised their price objective on Arista Networks from $185.00 to $230.00 and gave the stock a market perform rating in a research report on Thursday, October 26th. KeyCorp reissued a buy rating on shares of Arista Networks in a research report on Friday, November 3rd. Finally, Cowen reissued a buy rating and set a $200.00 price objective on shares of Arista Networks in a research report on Friday, November 3rd. Sixteen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $192.55.

Arista Networks (NYSE:ANET) opened at $209.48 on Friday. Arista Networks has a fifty-two week low of $87.33 and a fifty-two week high of $245.65. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $16,714.46, a price-to-earnings ratio of 54.96, a PEG ratio of 2.08 and a beta of 1.38.

In other news, insider Andreas Bechtolsheim sold 39,680 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $241.92, for a total transaction of $9,599,385.60. Following the completion of the transaction, the insider now directly owns 73,102 shares of the company’s stock, valued at $17,684,835.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anshul Sadana sold 12,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $189.95, for a total value of $2,279,400.00. Following the transaction, the insider now directly owns 86,788 shares of the company’s stock, valued at $16,485,380.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 489,512 shares of company stock valued at $110,575,560. 28.09% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. D.A. Davidson & CO. grew its position in shares of Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after buying an additional 30 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the last quarter. M&T Bank Corp lifted its stake in Arista Networks by 6.4% during the second quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock worth $347,000 after purchasing an additional 140 shares during the last quarter. Affinity Wealth Management lifted its stake in Arista Networks by 11.6% during the second quarter. Affinity Wealth Management now owns 2,158 shares of the technology company’s stock worth $323,000 after purchasing an additional 224 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Arista Networks by 13.9% during the second quarter. Oppenheimer & Co. Inc. now owns 2,105 shares of the technology company’s stock worth $315,000 after purchasing an additional 257 shares during the last quarter. 58.20% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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