Arista Networks (NYSE:ANET) had its price target lowered by stock analysts at JPMorgan Chase & Co. to $255.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 14.67% from the stock’s current price.
ANET has been the subject of a number of other reports. William Blair restated an “outperform” rating on shares of Arista Networks in a research note on Monday, September 17th. DA Davidson raised their target price on Arista Networks from $300.00 to $312.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Credit Suisse Group set a $311.00 target price on Arista Networks and gave the company a “buy” rating in a research note on Thursday, October 4th. Goldman Sachs Group lowered Arista Networks from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Finally, Zacks Investment Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $303.00 target price for the company in a research note on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $287.41.
Arista Networks stock opened at $222.37 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.17 and a quick ratio of 2.87. Arista Networks has a 52-week low of $177.92 and a 52-week high of $313.37. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 47.83, a P/E/G ratio of 1.95 and a beta of 1.48.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 2nd. The technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.43. Arista Networks had a return on equity of 28.51% and a net margin of 28.07%. The firm had revenue of $519.85 million during the quarter, compared to analyst estimates of $509.62 million. During the same period in the prior year, the company posted $1.34 earnings per share. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. Equities analysts anticipate that Arista Networks will post 6.43 EPS for the current fiscal year.
In related news, SVP Kenneth Duda sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $229.24, for a total value of $2,521,640.00. Following the transaction, the senior vice president now owns 2,664 shares in the company, valued at $610,695.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $260.26, for a total value of $520,520.00. Following the completion of the transaction, the senior vice president now owns 15,371 shares in the company, valued at approximately $4,000,456.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,820 shares of company stock worth $64,349,221. 24.95% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Summit Trail Advisors LLC boosted its holdings in Arista Networks by 34,145.8% during the first quarter. Summit Trail Advisors LLC now owns 8,663,852 shares of the technology company’s stock worth $8,664,000 after buying an additional 8,638,553 shares during the last quarter. BlackRock Inc. boosted its holdings in Arista Networks by 5.3% during the second quarter. BlackRock Inc. now owns 2,805,544 shares of the technology company’s stock worth $722,399,000 after buying an additional 140,468 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Arista Networks by 26.3% during the second quarter. Renaissance Technologies LLC now owns 1,093,700 shares of the technology company’s stock worth $281,617,000 after buying an additional 227,500 shares during the last quarter. First Trust Advisors LP boosted its holdings in Arista Networks by 7.9% during the second quarter. First Trust Advisors LP now owns 1,000,702 shares of the technology company’s stock worth $257,671,000 after buying an additional 73,288 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Arista Networks by 12.8% during the first quarter. Allianz Asset Management GmbH now owns 731,422 shares of the technology company’s stock worth $186,732,000 after buying an additional 83,174 shares during the last quarter. Institutional investors and hedge funds own 54.71% of the company’s stock.
About Arista Networks
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
Read More: What is Compound Annual Growth Rate (CAGR)?
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.