Analysts expect Arista Networks (NYSE:ANET) to report $462.67 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Arista Networks’ earnings, with the lowest sales estimate coming in at $458.50 million and the highest estimate coming in at $470.00 million. Arista Networks reported sales of $335.48 million during the same quarter last year, which indicates a positive year over year growth rate of 37.9%. The firm is expected to issue its next earnings results after the market closes on Thursday, May 3rd.
According to Zacks, analysts expect that Arista Networks will report full year sales of $2.08 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.13 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.52 billion per share, with estimates ranging from $2.31 billion to $2.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Arista Networks.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $463.82 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The company’s revenue was up 42.7% compared to the same quarter last year.
Several analysts have issued reports on ANET shares. Morgan Stanley upped their price objective on Arista Networks from $210.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, December 21st. Oppenheimer upped their price objective on Arista Networks from $200.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, January 8th. Needham & Company LLC upped their price objective on Arista Networks from $230.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Deutsche Bank cut Arista Networks from a “buy” rating to a “hold” rating and set a $245.00 price objective on the stock. in a research note on Tuesday, January 23rd. Finally, Citigroup upped their price objective on Arista Networks from $275.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $250.60.
In related news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $252.98, for a total value of $505,960.00. Following the completion of the transaction, the senior vice president now directly owns 13,884 shares of the company’s stock, valued at approximately $3,512,374.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $248.24, for a total value of $198,592.00. Following the completion of the sale, the chief executive officer now owns 6,613 shares of the company’s stock, valued at $1,641,611.12. The disclosure for this sale can be found here. Insiders sold a total of 74,166 shares of company stock valued at $19,919,035 over the last three months. Corporate insiders own 28.09% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANET. Nationwide Fund Advisors lifted its position in shares of Arista Networks by 79.3% during the 3rd quarter. Nationwide Fund Advisors now owns 9,017 shares of the technology company’s stock valued at $1,710,000 after acquiring an additional 3,989 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Arista Networks by 12.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 5,580 shares of the technology company’s stock valued at $1,058,000 after acquiring an additional 600 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Arista Networks by 167.8% during the 3rd quarter. Janus Henderson Group PLC now owns 371,915 shares of the technology company’s stock valued at $70,519,000 after acquiring an additional 233,039 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Arista Networks by 8.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,632 shares of the technology company’s stock valued at $1,447,000 after acquiring an additional 575 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Arista Networks by 6.9% during the 3rd quarter. California Public Employees Retirement System now owns 98,175 shares of the technology company’s stock valued at $18,615,000 after acquiring an additional 6,375 shares during the last quarter. Hedge funds and other institutional investors own 56.50% of the company’s stock.
NYSE ANET traded down $2.34 on Monday, hitting $256.16. 383,154 shares of the stock traded hands, compared to its average volume of 1,262,037. Arista Networks has a twelve month low of $134.04 and a twelve month high of $311.67. The stock has a market capitalization of $18,971.20, a P/E ratio of 55.25, a PEG ratio of 1.87 and a beta of 1.50. The company has a quick ratio of 3.70, a current ratio of 4.28 and a debt-to-equity ratio of 0.02.
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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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