Arista Networks (NYSE:ANET) had its target price boosted by investment analysts at Nomura from $185.00 to $250.00 in a research report issued on Tuesday. The brokerage currently has a “neutral” rating on the technology company’s stock. Nomura’s price objective would indicate a potential downside of 0.97% from the stock’s current price.
ANET has been the subject of a number of other research reports. JMP Securities upped their price objective on shares of Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. BMO Capital Markets upped their price objective on shares of Arista Networks from $190.00 to $205.00 and gave the company a “market perform” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. Citigroup upped their price target on shares of Arista Networks from $275.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. BidaskClub upgraded shares of Arista Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Fifteen analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Arista Networks presently has a consensus rating of “Buy” and a consensus price target of $247.93.
Shares of Arista Networks (NYSE:ANET) traded up $2.95 during trading on Tuesday, hitting $252.44. 760,126 shares of the stock were exchanged, compared to its average volume of 1,177,492. Arista Networks has a 12 month low of $115.86 and a 12 month high of $311.67. The stock has a market cap of $18,240.00, a PE ratio of 47.19, a price-to-earnings-growth ratio of 1.92 and a beta of 1.47. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.32. Arista Networks had a net margin of 25.71% and a return on equity of 27.23%. The company had revenue of $467.90 million during the quarter, compared to analysts’ expectations of $463.82 million. During the same quarter in the prior year, the company earned $1.04 EPS. The firm’s revenue was up 42.7% on a year-over-year basis. analysts predict that Arista Networks will post 5.5 earnings per share for the current year.
In related news, insider Ita M. Brennan sold 3,500 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $229.97, for a total value of $804,895.00. Following the completion of the transaction, the insider now directly owns 17,677 shares in the company, valued at approximately $4,065,179.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $230.09, for a total transaction of $460,180.00. Following the completion of the transaction, the senior vice president now owns 12,335 shares of the company’s stock, valued at $2,838,160.15. The disclosure for this sale can be found here. Insiders sold a total of 293,446 shares of company stock valued at $70,227,654 over the last 90 days. Company insiders own 28.09% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA bought a new position in shares of Arista Networks in the 4th quarter worth about $100,000. Gotham Asset Management LLC increased its stake in shares of Arista Networks by 172.6% in the 4th quarter. Gotham Asset Management LLC now owns 24,843 shares of the technology company’s stock worth $5,853,000 after acquiring an additional 15,728 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Arista Networks by 125.3% in the 4th quarter. Macquarie Group Ltd. now owns 617,554 shares of the technology company’s stock worth $145,483,000 after acquiring an additional 343,415 shares in the last quarter. LPL Financial LLC increased its stake in shares of Arista Networks by 54.4% in the 4th quarter. LPL Financial LLC now owns 11,301 shares of the technology company’s stock worth $2,662,000 after acquiring an additional 3,982 shares in the last quarter. Finally, Harvest Capital Strategies LLC bought a new position in shares of Arista Networks in the 4th quarter worth about $8,834,000. Institutional investors own 57.18% of the company’s stock.
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About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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