Arista Networks Inc. (NYSE:ANET) was downgraded by stock analysts at MKM Partners from a “buy” rating to a “neutral” rating in a report released on Monday. They currently have a $79.00 price target on the stock, down from their prior price target of $81.00. MKM Partners’ price objective would suggest a potential downside of 3.45% from the stock’s current price.

ANET has been the subject of several other research reports. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $90.00 price target on shares of Arista Networks in a report on Wednesday, August 24th. Deutsche Bank AG increased their price target on Arista Networks from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Citigroup Inc. reaffirmed a “buy” rating on shares of Arista Networks in a report on Wednesday, June 22nd. Royal Bank Of Canada increased their price target on Arista Networks from $70.00 to $80.00 and gave the company a “sector perform” rating in a report on Wednesday, August 31st. Finally, Zacks Investment Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 6th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. Arista Networks currently has a consensus rating of “Hold” and an average target price of $78.79.

Arista Networks (NYSE:ANET) opened at 81.82 on Monday. The stock has a 50 day moving average price of $78.29 and a 200 day moving average price of $69.81. Arista Networks has a 52-week low of $52.51 and a 52-week high of $85.10. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 40.71 and a beta of 1.14.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.68 by $0.06. Arista Networks had a return on equity of 20.45% and a net margin of 15.03%. The firm earned $268.70 million during the quarter, compared to analysts’ expectations of $262.98 million. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was up 37.4% on a year-over-year basis. On average, equities analysts expect that Arista Networks will post $2.93 earnings per share for the current year.

In other Arista Networks news, VP Mark Stephen Smith sold 5,000 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $70.04, for a total value of $350,200.00. Following the sale, the vice president now directly owns 1,244 shares in the company, valued at $87,129.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 13,938 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $72.20, for a total value of $1,006,323.60. The disclosure for this sale can be found here. 32.39% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Arista Networks by 10.7% in the second quarter. Vanguard Group Inc. now owns 2,832,779 shares of the company’s stock worth $182,373,000 after buying an additional 273,119 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Arista Networks by 60.4% in the second quarter. Alliancebernstein L.P. now owns 2,552,042 shares of the company’s stock worth $164,300,000 after buying an additional 960,594 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Arista Networks by 4.0% in the second quarter. Ameriprise Financial Inc. now owns 1,327,805 shares of the company’s stock worth $85,483,000 after buying an additional 50,686 shares in the last quarter. Criterion Capital Management LLC acquired a new stake in Arista Networks during the second quarter worth $73,407,000. Finally, FMR LLC boosted its stake in Arista Networks by 261.4% in the second quarter. FMR LLC now owns 1,060,697 shares of the company’s stock worth $68,288,000 after buying an additional 767,197 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.

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