Macquarie set a $325.00 price target on Arista Networks (NYSE:ANET) in a research report report published on Friday, TipRanks reports. The firm currently has a buy rating on the technology company’s stock.
Several other equities research analysts also recently weighed in on the company. ValuEngine downgraded Arista Networks from a hold rating to a sell rating in a report on Tuesday, January 29th. Morgan Stanley raised Arista Networks from an equal weight rating to an overweight rating and lowered their price target for the stock from $290.00 to $250.00 in a report on Monday, January 7th. Goldman Sachs Group raised their price target on Arista Networks from $300.00 to $360.00 and gave the stock a buy rating in a report on Thursday, March 21st. Nomura raised Arista Networks from a neutral rating to a buy rating and set a $260.00 price target for the company in a report on Friday, January 18th. Finally, Gabelli raised Arista Networks from a hold rating to a buy rating and set a $279.00 price target for the company in a report on Tuesday, February 19th. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $314.13.
ANET opened at $273.31 on Friday. Arista Networks has a 1 year low of $187.08 and a 1 year high of $331.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 4.48. The stock has a market capitalization of $21.30 billion, a price-to-earnings ratio of 38.66, a P/E/G ratio of 1.68 and a beta of 1.47.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.24. The business had revenue of $595.42 million during the quarter, compared to the consensus estimate of $595.21 million. Arista Networks had a return on equity of 31.12% and a net margin of 30.36%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company earned $1.66 earnings per share. Sell-side analysts predict that Arista Networks will post 8.24 EPS for the current fiscal year.
In related news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $314.93, for a total transaction of $629,860.00. Following the completion of the sale, the senior vice president now owns 14,341 shares of the company’s stock, valued at $4,516,411.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anshul Sadana sold 4,129 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $314.28, for a total value of $1,297,662.12. Following the sale, the chief operating officer now directly owns 1,893 shares of the company’s stock, valued at approximately $594,932.04. The disclosure for this sale can be found here. Insiders have sold 243,441 shares of company stock valued at $71,843,158 in the last ninety days. Corporate insiders own 23.83% of the company’s stock.
A number of large investors have recently made changes to their positions in ANET. Larson Financial Group LLC acquired a new position in Arista Networks in the fourth quarter valued at approximately $25,000. FTB Advisors Inc. acquired a new position in Arista Networks in the fourth quarter valued at approximately $26,000. Lenox Wealth Management Inc. acquired a new position in Arista Networks in the first quarter valued at approximately $26,000. Kaizen Advisory LLC acquired a new position in Arista Networks in the fourth quarter valued at approximately $27,000. Finally, CENTRAL TRUST Co lifted its holdings in Arista Networks by 53.3% in the fourth quarter. CENTRAL TRUST Co now owns 141 shares of the technology company’s stock valued at $29,000 after acquiring an additional 49 shares during the period. 56.12% of the stock is owned by institutional investors.
About Arista Networks
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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.
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