Arista Networks Inc (NYSE:ANET) has been assigned a consensus rating of “Buy” from the thirty-five brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $273.91.
Several brokerages have weighed in on ANET. Credit Suisse Group set a $303.00 target price on shares of Arista Networks and gave the company a “buy” rating in a research note on Friday, June 29th. Barclays restated a “buy” rating on shares of Arista Networks in a research note on Friday, May 4th. JPMorgan Chase & Co. restated a “hold” rating on shares of Arista Networks in a research note on Tuesday, May 8th. ValuEngine downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. Finally, Macquarie began coverage on shares of Arista Networks in a research note on Monday, April 30th. They issued an “outperform” rating and a $320.00 target price for the company.
NYSE ANET opened at $270.84 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.61 and a current ratio of 5.20. Arista Networks has a 52-week low of $141.78 and a 52-week high of $311.67. The company has a market cap of $19.82 billion, a PE ratio of 58.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, May 3rd. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.20. The firm had revenue of $472.49 million for the quarter, compared to the consensus estimate of $462.11 million. Arista Networks had a net margin of 27.19% and a return on equity of 27.23%. equities analysts predict that Arista Networks will post 6.34 earnings per share for the current year.
In related news, SVP Kenneth Duda sold 11,000 shares of the firm’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $269.37, for a total transaction of $2,963,070.00. Following the completion of the transaction, the senior vice president now owns 1,845 shares of the company’s stock, valued at $496,987.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nikos Theodosopoulos sold 110 shares of the firm’s stock in a transaction on Monday, May 21st. The stock was sold at an average price of $250.27, for a total transaction of $27,529.70. Following the transaction, the director now directly owns 1,746 shares of the company’s stock, valued at approximately $436,971.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,937 shares of company stock valued at $40,795,445. Corporate insiders own 24.95% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Three Peaks Capital Management LLC acquired a new stake in Arista Networks during the first quarter valued at $101,000. Group One Trading L.P. acquired a new stake in Arista Networks during the first quarter valued at $102,000. Compagnie Lombard Odier SCmA acquired a new stake in Arista Networks during the fourth quarter valued at $100,000. Cerebellum GP LLC acquired a new stake in Arista Networks during the second quarter valued at $159,000. Finally, Grimes & Company Inc. acquired a new stake in Arista Networks during the first quarter valued at $204,000. 53.38% of the stock is owned by hedge funds and other institutional investors.
About Arista Networks
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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