Arista Networks (ANET) Price Target Increased to $296.00 by Analysts at BMO Capital Markets

Arista Networks (NYSE:ANET) had its price objective increased by BMO Capital Markets from $279.00 to $296.00 in a research note issued to investors on Friday morning. The firm currently has an outperform rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Berenberg Bank set a $350.00 target price on shares of Arista Networks and gave the company a buy rating in a research note on Wednesday, September 19th. Zacks Investment Research upgraded shares of Arista Networks from a hold rating to a buy rating and set a $303.00 target price on the stock in a research note on Tuesday, July 10th. KeyCorp restated a buy rating and issued a $310.00 target price on shares of Arista Networks in a research note on Friday, August 3rd. DA Davidson upped their target price on shares of Arista Networks from $300.00 to $312.00 and gave the company a buy rating in a research note on Friday, August 3rd. Finally, Argus upped their target price on shares of Arista Networks to $320.00 and gave the company a buy rating in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $288.91.

Shares of Arista Networks stock traded up $16.81 during trading on Friday, reaching $257.77. The company had a trading volume of 3,090,279 shares, compared to its average volume of 1,165,577. The firm has a market cap of $19.29 billion, a PE ratio of 39.96, a price-to-earnings-growth ratio of 1.88 and a beta of 1.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.87 and a current ratio of 3.17. Arista Networks has a fifty-two week low of $192.75 and a fifty-two week high of $313.37.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 1st. The technology company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.21. The business had revenue of $563.31 million for the quarter, compared to analyst estimates of $548.81 million. Arista Networks had a net margin of 28.05% and a return on equity of 29.91%. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. On average, equities analysts predict that Arista Networks will post 6.44 earnings per share for the current year.

In other Arista Networks news, SVP Kenneth Duda sold 11,000 shares of the company’s stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $229.24, for a total value of $2,521,640.00. Following the completion of the transaction, the senior vice president now owns 2,664 shares in the company, valued at approximately $610,695.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jayshree Ullal sold 76,659 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $306.41, for a total transaction of $23,489,084.19. Following the completion of the transaction, the insider now owns 3,809 shares of the company’s stock, valued at approximately $1,167,115.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 214,737 shares of company stock valued at $63,805,710. 24.95% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ANET. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Arista Networks in the 2nd quarter worth about $129,000. Signet Financial Management LLC bought a new position in Arista Networks in the 2nd quarter worth about $142,000. Bbva Compass Bancshares Inc. bought a new position in Arista Networks in the 3rd quarter worth about $157,000. Cerebellum GP LLC bought a new position in Arista Networks in the 2nd quarter worth about $159,000. Finally, NewSquare Capital LLC bought a new position in Arista Networks in the 2nd quarter worth about $181,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.

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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