Oppenheimer Raises Arista Networks (ANET) Price Target to $270.00

Arista Networks (NYSE:ANET) had its target price lifted by Oppenheimer from $200.00 to $270.00 in a research note issued to investors on Monday morning. The brokerage currently has an outperform rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup reaffirmed a buy rating and set a $215.00 target price on shares of Arista Networks in a research report on Wednesday, September 27th. Berenberg Bank started coverage on Arista Networks in a research report on Tuesday, September 26th. They set a buy rating and a $225.00 target price for the company. BidaskClub raised Arista Networks from a hold rating to a buy rating in a research report on Saturday, September 23rd. KeyCorp reaffirmed a buy rating and set a $176.00 target price on shares of Arista Networks in a research report on Tuesday, September 19th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $175.00 target price on shares of Arista Networks in a research report on Tuesday, September 12th. Fourteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Arista Networks presently has a consensus rating of Buy and a consensus target price of $205.66.

Shares of Arista Networks (NYSE:ANET) traded up $2.30 during trading on Monday, reaching $252.28. The company’s stock had a trading volume of 632,100 shares, compared to its average volume of 786,714. The company has a market capitalization of $18,440.00, a PE ratio of 52.34, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. Arista Networks has a 52-week low of $87.33 and a 52-week high of $255.93.

In related news, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $189.95, for a total value of $2,279,400.00. Following the completion of the transaction, the insider now directly owns 86,788 shares of the company’s stock, valued at $16,485,380.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 7,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $211.39, for a total value of $1,479,730.00. Following the completion of the transaction, the senior vice president now directly owns 16,002 shares of the company’s stock, valued at $3,382,662.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 606,126 shares of company stock valued at $138,901,364. 28.09% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of ANET. Schwab Charles Investment Management Inc. raised its stake in Arista Networks by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 119,676 shares of the technology company’s stock worth $17,927,000 after acquiring an additional 7,361 shares in the last quarter. Comerica Bank raised its stake in Arista Networks by 22.0% during the second quarter. Comerica Bank now owns 2,282 shares of the technology company’s stock worth $354,000 after acquiring an additional 411 shares in the last quarter. Prudential Financial Inc. raised its stake in Arista Networks by 60.2% during the second quarter. Prudential Financial Inc. now owns 4,918 shares of the technology company’s stock worth $737,000 after acquiring an additional 1,848 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Arista Networks during the second quarter worth $472,000. Finally, Principal Financial Group Inc. raised its stake in Arista Networks by 13.6% during the second quarter. Principal Financial Group Inc. now owns 9,029 shares of the technology company’s stock worth $1,352,000 after acquiring an additional 1,084 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

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Arista Networks Company Profile

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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