$640.44 Million in Sales Expected for Arista Networks, Inc. (NYSE:ANET) This Quarter


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Analysts expect that Arista Networks, Inc. (NYSE:ANET) will announce $640.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Arista Networks’ earnings. The highest sales estimate is $644.60 million and the lowest is $629.84 million. Arista Networks reported sales of $523.03 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.4%. The company is expected to report its next earnings results on Tuesday, May 4th.

According to Zacks, analysts expect that Arista Networks will report full-year sales of $2.66 billion for the current fiscal year, with estimates ranging from $2.60 billion to $2.71 billion. For the next year, analysts anticipate that the company will post sales of $2.97 billion, with estimates ranging from $2.83 billion to $3.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Arista Networks.

Arista Networks (NYSE:ANET) last issued its earnings results on Wednesday, February 17th. The technology company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.10. Arista Networks had a net margin of 32.06% and a return on equity of 20.37%.

ANET has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday. Rosenblatt Securities upped their price target on Arista Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Friday. Barclays upped their price objective on shares of Arista Networks from $294.00 to $325.00 and gave the stock an “equal weight” rating in a report on Friday. Jefferies Financial Group lifted their price objective on Arista Networks from $240.00 to $295.00 and gave the stock a “hold” rating in a report on Friday. They noted that the move was a valuation call. Finally, Bank of America upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Tuesday, November 3rd. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and an average price target of $306.90.

In related news, CEO Jayshree Ullal sold 114,752 shares of the company’s stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $284.77, for a total transaction of $32,677,927.04. Following the transaction, the chief executive officer now directly owns 15,767 shares in the company, valued at approximately $4,489,968.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 1,665 shares of the business’s stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $269.99, for a total value of $449,533.35. Following the transaction, the director now owns 11,317 shares of the company’s stock, valued at approximately $3,055,476.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,349 shares of company stock valued at $77,723,894. 23.77% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in ANET. Lincoln National Corp lifted its position in shares of Arista Networks by 1.0% during the fourth quarter. Lincoln National Corp now owns 3,097 shares of the technology company’s stock worth $900,000 after purchasing an additional 32 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Arista Networks by 7.8% during the fourth quarter. CENTRAL TRUST Co now owns 484 shares of the technology company’s stock valued at $141,000 after acquiring an additional 35 shares in the last quarter. McIlrath & Eck LLC boosted its holdings in shares of Arista Networks by 34.9% in the fourth quarter. McIlrath & Eck LLC now owns 143 shares of the technology company’s stock valued at $41,000 after purchasing an additional 37 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Arista Networks by 0.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,237 shares of the technology company’s stock worth $1,231,000 after purchasing an additional 39 shares during the period. Finally, LS Investment Advisors LLC raised its position in Arista Networks by 3.1% during the 4th quarter. LS Investment Advisors LLC now owns 1,416 shares of the technology company’s stock valued at $411,000 after purchasing an additional 42 shares in the last quarter. 61.75% of the stock is currently owned by institutional investors.

ANET traded down $4.62 during trading on Thursday, hitting $287.54. 53,777 shares of the stock traded hands, compared to its average volume of 631,549. The firm has a market capitalization of $21.76 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 3.91 and a beta of 1.21. Arista Networks has a 12-month low of $156.63 and a 12-month high of $326.60. The firm has a 50-day moving average of $311.81 and a 200 day moving average of $257.62.

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.

Further Reading: Special Purpose Acquisition Company (SPAC)

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Earnings History and Estimates for Arista Networks (NYSE:ANET)

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