Trading Report: Today, Guggenheim Reiterates “Buy” Rating for Arista Networks Inc. (ANET)

Today, Guggenheim Reiterates “Buy” Rating for Arista Networks Inc. (ANET)

Arista Networks Inc. (NYSE:ANET)‘s stock had its “buy” rating reaffirmed by investment analysts at Guggenheim in a research report issued to clients and investors on Monday. They currently have a $100.00 price target on the stock. Guggenheim’s price target suggests a potential upside of 5.64% from the company’s previous close.

A number of other research firms also recently commented on ANET. Pacific Crest reaffirmed an “overweight” rating and set a $90.00 target price (down previously from $99.00) on shares of Arista Networks in a report on Friday, July 22nd. Oppenheimer Holdings Inc. set a $90.00 target price on Arista Networks and gave the stock a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $67.00 target price on shares of Arista Networks in a report on Friday, August 5th. Jefferies Group reaffirmed a “sell” rating and set a $40.25 target price on shares of Arista Networks in a report on Friday, August 5th. Finally, Deutsche Bank AG set a $80.00 target price on Arista Networks and gave the stock a “buy” rating in a report on Saturday, August 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Arista Networks presently has a consensus rating of “Buy” and an average price target of $90.14.

Arista Networks (NYSE:ANET) traded down 0.56% on Monday, reaching $94.66. The company’s stock had a trading volume of 365,498 shares. Arista Networks has a 12-month low of $52.51 and a 12-month high of $95.47. The firm has a 50-day moving average of $85.56 and a 200 day moving average of $77.32. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 40.94 and a beta of 1.12.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.10. The business earned $290.26 million during the quarter, compared to the consensus estimate of $283.33 million. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The company’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. On average, equities research analysts anticipate that Arista Networks will post $3.08 EPS for the current fiscal year.

In other news, SVP Kenneth Duda sold 12,296 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $81.34, for a total value of $1,000,156.64. Following the transaction, the senior vice president now owns 420 shares of the company’s stock, valued at approximately $34,162.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jayshree Ullal sold 105,847 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $79.85, for a total value of $8,451,882.95. The disclosure for this sale can be found here. 32.39% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in ANET. Alpha Windward LLC acquired a new position in shares of Arista Networks during the second quarter valued at approximately $371,000. Herald Investment Management Ltd raised its position in shares of Arista Networks by 145.8% in the first quarter. Herald Investment Management Ltd now owns 7,250 shares of the company’s stock valued at $457,000 after buying an additional 4,300 shares during the period. Seven Eight Capital LLC acquired a new position in shares of Arista Networks during the first quarter valued at approximately $150,000. Babson Capital Management LLC acquired a new position in shares of Arista Networks during the first quarter valued at approximately $972,000. Finally, Eachwin Capital LP acquired a new position in shares of Arista Networks during the first quarter valued at approximately $386,000. 54.58% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Company Profile

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