Zacks: Analysts Anticipate Arista Networks Inc (NYSE:ANET) Will Post Quarterly Sales of $606.67 Million

Equities analysts expect that Arista Networks Inc (NYSE:ANET) will report sales of $606.67 million for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Arista Networks’ earnings, with the lowest sales estimate coming in at $601.39 million and the highest estimate coming in at $615.00 million. Arista Networks reported sales of $519.85 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.7%. The firm is scheduled to report its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Arista Networks will report full year sales of $2.55 billion for the current year, with estimates ranging from $2.49 billion to $2.58 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.01 billion, with estimates ranging from $2.81 billion to $3.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Arista Networks.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.24. The business had revenue of $595.42 million during the quarter, compared to analyst estimates of $595.21 million. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. The firm’s revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 earnings per share.

Several brokerages recently weighed in on ANET. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $330.00 price objective (down previously from $340.00) on shares of Arista Networks in a research report on Friday, June 7th. Morgan Stanley cut their price objective on shares of Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. MKM Partners raised their price objective on shares of Arista Networks to $295.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Wolfe Research raised shares of Arista Networks from an “underperform” rating to a “peer perform” rating in a research report on Monday, May 6th. Finally, Macquarie set a $325.00 price objective on shares of Arista Networks and gave the company a “buy” rating in a research report on Friday, May 3rd. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $312.17.

ANET traded down $6.71 during midday trading on Tuesday, hitting $235.30. 482,393 shares of the company’s stock traded hands, compared to its average volume of 921,745. The firm has a market cap of $18.32 billion, a PE ratio of 33.28, a PEG ratio of 1.54 and a beta of 1.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34. Arista Networks has a one year low of $187.08 and a one year high of $331.27.

In other news, SVP Manuel Felix Rivelo sold 702 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $300.00, for a total value of $210,600.00. Following the sale, the senior vice president now owns 270 shares in the company, valued at $81,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ita M. Brennan sold 5,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $243.94, for a total transaction of $1,219,700.00. Following the completion of the sale, the insider now owns 6,830 shares in the company, valued at approximately $1,666,110.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 289,730 shares of company stock worth $79,473,564. Corporate insiders own 23.83% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Cigna Investments Inc. New grew its stake in shares of Arista Networks by 2.4% in the first quarter. Cigna Investments Inc. New now owns 1,675 shares of the technology company’s stock worth $528,000 after acquiring an additional 40 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of Arista Networks by 4.2% in the first quarter. IHT Wealth Management LLC now owns 1,258 shares of the technology company’s stock worth $396,000 after acquiring an additional 51 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Arista Networks by 42.6% in the first quarter. CENTRAL TRUST Co now owns 201 shares of the technology company’s stock worth $63,000 after acquiring an additional 60 shares during the last quarter. Montag & Caldwell LLC grew its stake in shares of Arista Networks by 4.5% in the first quarter. Montag & Caldwell LLC now owns 1,410 shares of the technology company’s stock worth $443,000 after acquiring an additional 61 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Arista Networks by 46.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock worth $61,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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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