Arista Networks (ANET) Expected to Post Earnings of $1.52 Per Share

Wall Street analysts forecast that Arista Networks (NYSE:ANET) will announce earnings of $1.52 per share for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Arista Networks’ earnings. The highest EPS estimate is $1.68 and the lowest is $1.41. Arista Networks reported earnings per share of $0.93 during the same quarter last year, which would suggest a positive year over year growth rate of 63.4%. The firm is scheduled to report its next earnings report after the market closes on Thursday, May 3rd.

According to Zacks, analysts expect that Arista Networks will report full-year earnings of $6.87 per share for the current year, with EPS estimates ranging from $6.24 to $7.68. For the next financial year, analysts forecast that the firm will post earnings of $8.23 per share, with EPS estimates ranging from $7.00 to $8.98. Zacks’ EPS averages are an average based on a survey of analysts that cover Arista Networks.

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Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.39 by $0.32. Arista Networks had a return on equity of 25.86% and a net margin of 25.71%. The business had revenue of $467.90 million for the quarter, compared to analyst estimates of $463.82 million. During the same quarter in the previous year, the firm earned $1.04 EPS. The company’s quarterly revenue was up 42.7% compared to the same quarter last year.

Several brokerages recently issued reports on ANET. Needham & Company LLC boosted their price objective on shares of Arista Networks from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, February 16th. DA Davidson set a $300.00 price objective on shares of Arista Networks and gave the company a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus boosted their price objective on shares of Arista Networks from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 16th. Gabelli lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Friday, February 16th. Finally, Oppenheimer boosted their price objective on shares of Arista Networks to $300.00 and gave the company an “outperform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $250.60.

NYSE ANET opened at $239.44 on Friday. Arista Networks has a 52 week low of $131.12 and a 52 week high of $311.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.70 and a current ratio of 4.28. The firm has a market cap of $18,040.37, a PE ratio of 51.49, a P/E/G ratio of 1.78 and a beta of 1.50.

In other news, CEO Jayshree Ullal sold 800 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $248.24, for a total transaction of $198,592.00. Following the completion of the transaction, the chief executive officer now directly owns 6,613 shares of the company’s stock, valued at $1,641,611.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $252.98, for a total value of $505,960.00. Following the transaction, the senior vice president now directly owns 13,884 shares of the company’s stock, valued at $3,512,374.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,166 shares of company stock valued at $19,919,035. Corporate insiders own 28.09% of the company’s stock.

Several institutional investors have recently made changes to their positions in ANET. Jackson Square Partners LLC grew its position in shares of Arista Networks by 380.2% during the fourth quarter. Jackson Square Partners LLC now owns 1,272,515 shares of the technology company’s stock worth $299,779,000 after buying an additional 1,007,491 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Arista Networks by 125.3% in the fourth quarter. Macquarie Group Ltd. now owns 617,554 shares of the technology company’s stock valued at $145,483,000 after purchasing an additional 343,415 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Arista Networks by 188.8% in the fourth quarter. Two Sigma Advisers LP now owns 433,024 shares of the technology company’s stock valued at $102,012,000 after purchasing an additional 283,061 shares in the last quarter. Atlantic Trust Group LLC acquired a new position in Arista Networks in the third quarter valued at approximately $50,736,000. Finally, Allianz Asset Management GmbH boosted its holdings in Arista Networks by 69.4% in the fourth quarter. Allianz Asset Management GmbH now owns 648,248 shares of the technology company’s stock valued at $152,714,000 after purchasing an additional 265,519 shares in the last quarter. 56.50% of the stock is owned by institutional investors and hedge funds.

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Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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.

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