Arista Networks’ (ANET) “Outperform” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reaffirmed their outperform rating on shares of Arista Networks, Inc. (NYSE:ANET) in a report issued on Friday morning. The firm currently has a $190.00 price objective on the technology company’s stock, up from their previous price objective of $167.00.
Other equities analysts have also recently issued research reports about the company. Cowen and Company upped their price target on Arista Networks from $123.00 to $145.00 and gave the stock an outperform rating in a report on Friday, May 5th. UBS AG upped their price target on Arista Networks from $120.00 to $150.00 and gave the stock a neutral rating in a report on Wednesday, May 31st. William Blair raised Arista Networks from a market perform rating to an outperform rating in a report on Friday. Gabelli reaffirmed a hold rating on shares of Arista Networks in a report on Friday, April 14th. Finally, DA Davidson cut Arista Networks from a buy rating to a neutral rating and set a $153.00 price target for the company. in a report on Monday, May 22nd. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $148.30.
Shares of Arista Networks (ANET) opened at 172.05 on Friday. The stock has a market cap of $12.39 billion, a PE ratio of 55.57 and a beta of 1.33. The firm has a 50-day moving average price of $153.36 and a 200-day moving average price of $133.41. Arista Networks has a 12 month low of $68.75 and a 12 month high of $175.40.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.15. The business had revenue of $405.21 million during the quarter, compared to analysts’ expectations of $361.02 million. Arista Networks had a return on equity of 23.86% and a net margin of 21.74%. The company’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities analysts forecast that Arista Networks will post $4.38 EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Arista Networks’ (ANET) “Outperform” Rating Reaffirmed at BMO Capital Markets” was first reported by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/07/arista-networks-anet-outperform-rating-reaffirmed-at-bmo-capital-markets.html.
In related news, insider Jayshree Ullal sold 61,325 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $160.25, for a total value of $9,827,331.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 10,507 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $144.23, for a total value of $1,515,424.61. Following the completion of the transaction, the senior vice president now owns 811 shares in the company, valued at $116,970.53. The disclosure for this sale can be found here. Insiders sold 648,962 shares of company stock worth $98,403,258 over the last quarter. 28.09% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC acquired a new position in Arista Networks during the second quarter worth approximately $119,000. SG Americas Securities LLC acquired a new position in Arista Networks during the first quarter worth approximately $164,000. Financial Architects Inc boosted its position in Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock worth $166,000 after buying an additional 877 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Arista Networks during the second quarter worth approximately $202,000. Finally, Comerica Bank acquired a new position in Arista Networks during the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 60.84% of the company’s stock.
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.
Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.