Shares of Arista Networks Inc (NYSE:ANET) have received an average rating of “Hold” from the twenty-eight analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $225.50.
A number of equities analysts recently commented on ANET shares. Piper Jaffray Companies reduced their price objective on Arista Networks from $272.00 to $213.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Co reiterated a “market perform” rating and set a $205.00 price objective (down previously from $270.00) on shares of Arista Networks in a research report on Friday, November 1st. Wolfe Research reduced their price objective on Arista Networks from $270.00 to $200.00 and set a “peer perform” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus downgraded Arista Networks from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $287.00 to $193.00 in a research report on Friday, November 1st. Finally, Citigroup upgraded Arista Networks to a “buy” rating and reduced their price objective for the stock from $315.00 to $225.00 in a research report on Friday, November 1st.
Arista Networks stock traded down $14.03 during trading on Friday, reaching $223.59. 1,887,003 shares of the company were exchanged, compared to its average volume of 716,957. Arista Networks has a 52-week low of $173.31 and a 52-week high of $331.27. The company has a market capitalization of $17.76 billion, a P/E ratio of 23.56, a PEG ratio of 1.96 and a beta of 1.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.91 and a quick ratio of 5.47. The stock’s 50 day simple moving average is $219.42 and its two-hundred day simple moving average is $221.05.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.46. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The firm had revenue of $552.55 million for the quarter, compared to the consensus estimate of $550.63 million. During the same quarter last year, the business posted $2.25 earnings per share. As a group, equities analysts forecast that Arista Networks will post 8.56 earnings per share for the current year.
In related news, SVP Kenneth Duda sold 10,876 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $232.37, for a total transaction of $2,527,256.12. Following the completion of the transaction, the senior vice president now directly owns 3,987 shares of the company’s stock, valued at approximately $926,459.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $192.51, for a total value of $962,550.00. Following the transaction, the senior vice president now directly owns 11,365 shares of the company’s stock, valued at $2,187,876.15. The disclosure for this sale can be found here. Insiders have sold a total of 50,648 shares of company stock valued at $10,645,433 over the last three months. 23.83% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Man Group plc grew its stake in Arista Networks by 42.0% during the 3rd quarter. Man Group plc now owns 3,064 shares of the technology company’s stock worth $732,000 after purchasing an additional 907 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Arista Networks during the 3rd quarter worth about $8,921,000. National Pension Service lifted its holdings in Arista Networks by 5.5% during the 3rd quarter. National Pension Service now owns 75,963 shares of the technology company’s stock worth $18,149,000 after buying an additional 3,964 shares during the last quarter. Riggs Asset Managment Co. Inc. purchased a new stake in Arista Networks during the 3rd quarter worth about $911,000. Finally, California State Teachers Retirement System lifted its holdings in Arista Networks by 1.3% during the 3rd quarter. California State Teachers Retirement System now owns 97,937 shares of the technology company’s stock worth $23,399,000 after buying an additional 1,260 shares during the last quarter. 59.60% of the stock is owned by hedge funds and other 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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