Arista Networks Inc. (NYSE:ANET)‘s stock had its “outperform” rating restated by equities researchers at Wells Fargo & Co. in a report released on Monday. They currently have a $100.00 price target on the stock. Wells Fargo & Co.’s price target points to a potential upside of 5.64% from the company’s current price.
A number of other brokerages have also recently issued reports on ANET. Argus started coverage on shares of Arista Networks in a research note on Tuesday, October 25th. They issued a “buy” rating and a $107.00 price objective on the stock. Pacific Crest reaffirmed a “buy” rating on shares of Arista Networks in a research note on Friday, November 4th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Arista Networks in a research note on Wednesday, August 24th. Zacks Investment Research cut shares of Arista Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Finally, Deutsche Bank AG set a $80.00 price objective on shares of Arista Networks and gave the company a “buy” rating in a research note on Saturday, August 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $90.14.
Shares of Arista Networks (NYSE:ANET) traded down 0.56% during mid-day trading on Monday, reaching $94.66. 365,498 shares of the company’s stock traded hands. Arista Networks has a 52 week low of $52.51 and a 52 week high of $95.47. The company’s 50 day moving average is $85.56 and its 200-day moving average is $77.32. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 40.94 and a beta of 1.12.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.10. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The business had revenue of $290.26 million for the quarter, compared to analysts’ expectations of $283.33 million. During the same period in the prior year, the firm earned $0.59 earnings per share. Arista Networks’s revenue was up 33.4% compared to the same quarter last year. Equities analysts expect that Arista Networks will post $3.08 earnings per share for the current fiscal year.
In other Arista Networks news, SVP Kenneth Duda sold 12,296 shares of Arista Networks stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $81.34, for a total value of $1,000,156.64. Following the sale, the senior vice president now directly owns 420 shares in the company, valued at approximately $34,162.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jayshree Ullal sold 54,542 shares of Arista Networks stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $79.85, for a total transaction of $4,355,178.70. The disclosure for this sale can be found here. 32.39% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Scout Investments Inc. acquired a new stake in shares of Arista Networks during the third quarter valued at about $22,366,000. Price T Rowe Associates Inc. MD raised its stake in shares of Arista Networks by 42.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 57,952 shares of the company’s stock valued at $4,931,000 after buying an additional 17,211 shares during the last quarter. LPL Financial LLC raised its stake in shares of Arista Networks by 16.6% in the third quarter. LPL Financial LLC now owns 4,618 shares of the company’s stock valued at $394,000 after buying an additional 656 shares during the last quarter. Credit Suisse AG raised its stake in shares of Arista Networks by 154.7% in the third quarter. Credit Suisse AG now owns 57,974 shares of the company’s stock valued at $4,933,000 after buying an additional 35,211 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Arista Networks during the third quarter valued at about $30,091,000. Hedge funds and other institutional investors own 54.58% of the company’s stock.
Arista Networks Company Profile