Arista Networks, Inc. (NYSE:ANET) PT Raised to $200.00 at Barclays PLC
Arista Networks, Inc. (NYSE:ANET) had its target price increased by Barclays PLC from $185.00 to $200.00 in a research note released on Friday morning. They currently have an overweight rating on the technology company’s stock. The analysts noted that the move was a valuation call.
Other analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a buy rating and set a $162.00 price objective (up previously from $150.00) on shares of Arista Networks in a research report on Friday, May 5th. CIBC reaffirmed a buy rating and set a $160.00 price objective on shares of Arista Networks in a research report on Friday, May 5th. Oppenheimer Holdings, Inc. set a $160.00 price objective on shares of Arista Networks and gave the stock a buy rating in a research report on Thursday, May 4th. Deutsche Bank AG set a $156.00 price objective on shares of Arista Networks and gave the stock a buy rating in a research report on Saturday, May 27th. Finally, BidaskClub downgraded shares of Arista Networks from a strong-buy rating to a buy rating in a research report on Tuesday, July 4th. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $148.30.
Arista Networks (NYSE ANET) opened at 172.05 on Friday. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 55.57 and a beta of 1.33. Arista Networks has a 52 week low of $68.75 and a 52 week high of $175.40. The firm has a 50-day moving average of $153.36 and a 200-day moving average of $133.41.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. The business had revenue of $405.21 million during the quarter, compared to the consensus estimate of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 23.86%. The company’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. Equities analysts forecast that Arista Networks will post $4.38 earnings per share for the current year.
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In related news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $150.43, for a total value of $300,860.00. Following the completion of the sale, the senior vice president now owns 11,775 shares of the company’s stock, valued at approximately $1,771,313.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jayshree Ullal sold 22,763 shares of Arista Networks stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $157.81, for a total value of $3,592,229.03. Following the completion of the sale, the insider now directly owns 2,576 shares of the company’s stock, valued at approximately $406,518.56. The disclosure for this sale can be found here. Insiders have sold a total of 648,962 shares of company stock worth $98,403,258 over the last quarter. Company insiders own 28.09% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. LS Investment Advisors LLC purchased a new stake in shares of Arista Networks during the second quarter valued at $119,000. SG Americas Securities LLC purchased a new stake in shares of Arista Networks during the first quarter valued at $164,000. Financial Architects Inc raised its stake in shares of Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock valued at $166,000 after buying an additional 877 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Arista Networks during the second quarter valued at $202,000. Finally, Comerica Bank purchased a new stake in shares of Arista Networks during the fourth quarter valued at $205,000. 60.84% of the stock is owned by institutional investors.
About Arista Networks
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.
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