Arista Networks (NYSE:ANET) Price Target Increased to $175.00 by Analysts at Rosenblatt Securities

Arista Networks (NYSE:ANETGet Rating) had its price objective increased by Rosenblatt Securities from $160.00 to $175.00 in a research report released on Monday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently issued reports on ANET. UBS Group upped their price target on shares of Arista Networks to $135.00 in a research report on Friday, November 4th. Evercore ISI upped their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company an outperform rating in a research report on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Arista Networks from $135.00 to $140.00 in a research report on Thursday, November 3rd. Citigroup upped their price target on shares of Arista Networks from $170.00 to $190.00 in a research report on Friday, November 4th. Finally, StockNews.com began coverage on shares of Arista Networks in a research report on Wednesday, October 12th. They issued a buy rating for the company. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $167.32.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $137.19 on Monday. The company has a market cap of $41.92 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.06 and a beta of 1.27. The firm has a 50 day simple moving average of $118.46 and a 200 day simple moving average of $112.19. Arista Networks has a one year low of $89.11 and a one year high of $148.57.

Arista Networks (NYSE:ANETGet Rating) last issued its quarterly earnings data on Monday, October 31st. The technology company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.04 by $0.21. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.06 billion. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. The firm’s revenue was up 57.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, analysts expect that Arista Networks will post 3.78 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $114.87, for a total value of $119,464.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $114.87, for a total value of $119,464.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $127.38, for a total transaction of $2,547,600.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $413,220.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,476 shares of company stock worth $8,515,503. 19.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Janiczek Wealth Management LLC lifted its stake in shares of Arista Networks by 73.0% in the third quarter. Janiczek Wealth Management LLC now owns 275 shares of the technology company’s stock valued at $30,000 after buying an additional 116 shares in the last quarter. MV Capital Management Inc. lifted its position in shares of Arista Networks by 172.7% during the third quarter. MV Capital Management Inc. now owns 270 shares of the technology company’s stock valued at $30,000 after purchasing an additional 171 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Arista Networks during the first quarter valued at about $32,000. San Luis Wealth Advisors LLC bought a new position in shares of Arista Networks during the first quarter valued at about $39,000. Finally, Clear Street Markets LLC lifted its position in shares of Arista Networks by 415.2% during the second quarter. Clear Street Markets LLC now owns 474 shares of the technology company’s stock valued at $44,000 after purchasing an additional 382 shares in the last quarter. 63.82% of the stock is owned by institutional investors.

Arista Networks Company Profile

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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.

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