Arista Networks, Inc. (NYSE:ANET) Receives $104.29 Consensus PT from Brokerages

Arista Networks, Inc. (NYSE:ANET) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $104.29.

A number of brokerages have weighed in on ANET. JPMorgan Chase & Co. cut their target price on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup cut their target price on shares of Arista Networks from $121.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th.

Arista Networks Price Performance

Shares of NYSE ANET opened at $77.96 on Wednesday. The business’s fifty day moving average price is $80.57 and its 200-day moving average price is $98.31. Arista Networks has a one year low of $59.43 and a one year high of $133.58. The stock has a market capitalization of $97.89 billion, a PE ratio of 35.12, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities analysts expect that Arista Networks will post 2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares in the company, valued at approximately $512,305.20. The trade was a 16.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 412,355 shares of company stock valued at $39,446,799. 3.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks during the 4th quarter valued at $242,000. GHE LLC increased its position in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC increased its position in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares during the period. Unified Investment Management purchased a new position in Arista Networks during the 4th quarter valued at $630,000. Finally, Berkshire Capital Holdings Inc. increased its position in Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after purchasing an additional 55,430 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Company Profile

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.