Arista Networks Inc. (NYSE:ANET)‘s stock had its “buy” rating reiterated by analysts at Deutsche Bank AG in a research note issued to investors on Monday. They currently have a $85.00 target price on the stock, down from their prior target price of $105.00. Deutsche Bank AG’s target price would indicate a potential downside of 10.20% from the company’s previous close.
A number of other analysts have also recently issued reports on ANET. BMO Capital Markets reissued a “buy” rating and set a $93.00 price objective on shares of Arista Networks in a report on Friday, November 4th. Citigroup Inc. set a $105.00 target price on Arista Networks and gave the stock a “buy” rating in a research note on Tuesday, November 22nd. Guggenheim restated a “buy” rating and issued a $100.00 target price on shares of Arista Networks in a research note on Monday, November 7th. RBC Capital Markets upped their target price on Arista Networks from $84.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Monday, November 21st. Finally, Bank of America Corp. upgraded Arista Networks from an “underperform” rating to a “neutral” rating and set a $97.00 target price on the stock in a research note on Tuesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Arista Networks has a consensus rating of “Buy” and an average target price of $90.14.
Arista Networks (NYSE:ANET) traded up 1.38% during trading on Monday, hitting $95.97. The company had a trading volume of 620,095 shares. Arista Networks has a 1-year low of $52.51 and a 1-year high of $96.06. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 41.51 and a beta of 1.12. The company’s 50 day moving average price is $85.56 and its 200-day moving average price is $77.32.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The business had revenue of $290.26 million for the quarter, compared to analysts’ expectations of $283.33 million. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. On average, analysts expect that Arista Networks will post $3.08 EPS for the current year.
In related news, insider Jayshree Ullal sold 54,542 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $79.85, for a total value of $4,355,178.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mark Stephen Smith sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $87.86, for a total value of $439,300.00. Following the completion of the transaction, the vice president now directly owns 1,620 shares in the company, valued at approximately $142,333.20. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. Public Employees Retirement Association of Colorado boosted its position in shares of Arista Networks by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,257 shares of the company’s stock valued at $107,000 after buying an additional 5 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Arista Networks by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,305 shares of the company’s stock worth $111,000 after buying an additional 167 shares in the last quarter. D. Scott Neal Inc. bought a new stake in Arista Networks during the third quarter worth $128,000. Quantbot Technologies LP bought a new stake in Arista Networks during the second quarter worth $136,000. Finally, Seven Eight Capital LLC bought a new stake in Arista Networks during the first quarter worth $150,000. 55.52% of the stock is currently owned by institutional investors.
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