Arista Networks (ANET) Receives New Coverage from Analysts at UBS Group

Analysts at UBS Group started coverage on shares of Arista Networks (NYSE:ANET) in a report issued on Wednesday, The Fly reports. The brokerage set a “neutral” rating and a $290.00 price target on the technology company’s stock. UBS Group’s price objective suggests a potential upside of 8.62% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $303.00 price target for the company in a report on Tuesday, July 10th. Credit Suisse Group set a $303.00 price target on shares of Arista Networks and gave the company a “buy” rating in a report on Friday, June 29th. KeyCorp reaffirmed a “buy” rating and issued a $310.00 price target on shares of Arista Networks in a report on Friday, August 3rd. DA Davidson lifted their price target on shares of Arista Networks from $300.00 to $312.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, Argus lifted their price target on shares of Arista Networks to $320.00 and gave the company a “buy” rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $288.27.

ANET stock traded down $7.58 during mid-day trading on Wednesday, hitting $266.98. 51,223 shares of the company were exchanged, compared to its average volume of 1,063,619. The firm has a market cap of $20.52 billion, a P/E ratio of 57.26, a P/E/G ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.17 and a quick ratio of 2.87. Arista Networks has a twelve month low of $177.92 and a twelve month high of $313.37.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.43. The company had revenue of $519.85 million during the quarter, compared to analyst estimates of $509.62 million. Arista Networks had a net margin of 28.07% and a return on equity of 28.51%. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period last year, the business earned $1.34 EPS. sell-side analysts expect that Arista Networks will post 6.43 EPS for the current year.

In other news, CFO Ita M. Brennan sold 5,000 shares of Arista Networks stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $300.30, for a total value of $1,501,500.00. Following the transaction, the chief financial officer now directly owns 19,886 shares of the company’s stock, valued at $5,971,765.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 11,000 shares of Arista Networks stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $267.49, for a total transaction of $2,942,390.00. Following the completion of the transaction, the senior vice president now directly owns 2,664 shares in the company, valued at $712,593.36. The disclosure for this sale can be found here. Insiders sold a total of 216,820 shares of company stock worth $64,777,011 over the last quarter. Insiders own 24.95% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its position in Arista Networks by 93.1% during the first quarter. Prudential Financial Inc. now owns 20,901 shares of the technology company’s stock valued at $5,336,000 after purchasing an additional 10,075 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Arista Networks by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 91,945 shares of the technology company’s stock worth $23,474,000 after acquiring an additional 3,947 shares in the last quarter. American International Group Inc. grew its position in Arista Networks by 52.3% in the first quarter. American International Group Inc. now owns 1,910 shares of the technology company’s stock worth $488,000 after acquiring an additional 656 shares in the last quarter. Aperio Group LLC grew its position in Arista Networks by 42.8% in the first quarter. Aperio Group LLC now owns 11,138 shares of the technology company’s stock worth $2,844,000 after acquiring an additional 3,337 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Arista Networks by 36.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,430 shares of the technology company’s stock worth $1,642,000 after acquiring an additional 1,714 shares in the last quarter. 54.71% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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The Fly

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