Brokerages Set Arista Networks, Inc. (NYSE:ANET) Price Target at $275.59

Arista Networks, Inc. (NYSE:ANET) has been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $275.59.

Several research firms have weighed in on ANET. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. Barclays lifted their price target on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Wells Fargo & Company increased their price target on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th.

Arista Networks Stock Performance

ANET opened at $245.99 on Friday. The stock has a market cap of $76.90 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. The firm’s fifty day moving average is $280.29 and its 200 day moving average is $244.55. Arista Networks has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. On average, equities research analysts predict that Arista Networks will post 6.7 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $922,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Marc Taxay sold 11,650 shares of Arista Networks stock in a transaction on Friday, March 1st. The stock was sold at an average price of $286.28, for a total transaction of $3,335,162.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The disclosure for this sale can be found here. Insiders have sold 342,229 shares of company stock worth $97,968,530 over the last quarter. Insiders own 18.99% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently added to or reduced their stakes in ANET. AXQ Capital LP bought a new stake in shares of Arista Networks during the third quarter valued at approximately $791,000. Advisor Resource Council raised its position in Arista Networks by 507.9% during the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after purchasing an additional 5,866 shares in the last quarter. Bleakley Financial Group LLC raised its position in Arista Networks by 4.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after purchasing an additional 194 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares in the last quarter. Finally, Cambridge Trust Co. increased its stake in shares of Arista Networks by 70.1% during the third quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock valued at $9,243,000 after buying an additional 20,704 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.