Trade Report: Today: Arista Networks Inc. (ANET) Receives Buy Rating from Deutsche Bank AG

Today: Arista Networks Inc. (ANET) Receives Buy Rating from Deutsche Bank AG

Arista Networks Inc. (NYSE:ANET)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a report released on Monday. They currently have a $85.00 target price on the stock, down from their previous target price of $105.00. Deutsche Bank AG’s price target would indicate a potential downside of 10.20% from the company’s current price.

A number of other equities research analysts have also weighed in on ANET. Oppenheimer Holdings Inc. set a $90.00 price target on shares of Arista Networks and gave the company a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $67.00 price objective on shares of Arista Networks in a research note on Friday, August 5th. Jefferies Group reiterated a “sell” rating and set a $40.25 price objective on shares of Arista Networks in a research note on Friday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price objective on shares of Arista Networks in a research note on Monday, August 8th. Finally, BMO Capital Markets started coverage on shares of Arista Networks in a research note on Thursday, August 18th. They set an “outperform” rating and a $90.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $90.14.

Arista Networks (NYSE:ANET) traded up 1.38% on Monday, reaching $95.97. 620,095 shares of the company’s stock were exchanged. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 41.51 and a beta of 1.12. The stock’s 50 day moving average price is $85.56 and its 200 day moving average price is $77.32. Arista Networks has a 1-year low of $52.51 and a 1-year high of $96.06.

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

In other Arista Networks news, SVP Kenneth Duda sold 12,296 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 420 shares in the company, valued at $34,162.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jayshree Ullal sold 54,542 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was 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.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 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 last quarter. Montag & Caldwell LLC boosted its position in shares of Arista Networks by 0.4% in the second quarter. Montag & Caldwell LLC now owns 10,713 shares of the company’s stock valued at $690,000 after buying an additional 40 shares during the last quarter. BlackRock Investment Management LLC boosted its position in shares of Arista Networks by 0.6% in the third quarter. BlackRock Investment Management LLC now owns 15,352 shares of the company’s stock valued at $1,306,000 after buying an additional 93 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Arista Networks by 3.5% in the second quarter. Legal & General Group Plc now owns 3,111 shares of the company’s stock valued at $200,000 after buying an additional 105 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arista Networks by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,305 shares of the company’s stock valued at $111,000 after buying an additional 167 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

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