Arista Networks’ (ANET) “Buy” Rating Reaffirmed at Argus
Several other research analysts also recently commented on ANET. Gabelli reaffirmed a hold rating on shares of Arista Networks in a report on Friday, April 14th. Barclays PLC reaffirmed an overweight rating on shares of Arista Networks in a report on Saturday, April 22nd. Credit Suisse Group downgraded shares of Arista Networks from an outperform rating to a neutral rating and set a $140.00 price objective for the company. in a report on Thursday, April 27th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a hold rating and issued a $115.00 price objective on shares of Arista Networks in a report on Tuesday, May 2nd. Finally, Oppenheimer Holdings, Inc. set a $160.00 price objective on shares of Arista Networks and gave the stock a buy rating in a report on Thursday, May 4th. Sixteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Arista Networks presently has a consensus rating of Buy and a consensus price target of $149.71.
Shares of Arista Networks (NYSE:ANET) traded up 0.01% during midday trading on Monday, hitting $173.76. The company had a trading volume of 138,485 shares. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 56.12 and a beta of 1.33. Arista Networks has a 12-month low of $68.75 and a 12-month high of $174.90. The company’s 50-day moving average price is $153.36 and its 200 day moving average price is $133.41.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.15. The company 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%. Arista Networks’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS. Equities research analysts predict that Arista Networks will post $4.52 earnings per share for the current fiscal year.
In related news, SVP Kenneth Duda sold 9,539 shares of Arista Networks stock in a transaction on Friday, June 9th. The shares were sold at an average price of $156.19, for a total value of $1,489,896.41. Following the transaction, the senior vice president now owns 1,202 shares in the company, valued at approximately $187,740.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jayshree Ullal sold 140,696 shares of Arista Networks stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $145.17, for a total transaction of $20,424,838.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 638,455 shares of company stock worth $96,887,834. 28.09% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of ANET. Candriam Luxembourg S.C.A. boosted its position in shares of Arista Networks by 47.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 20,056 shares of the technology company’s stock worth $2,653,000 after buying an additional 6,411 shares during the last quarter. Navellier & Associates Inc acquired a new position in shares of Arista Networks during the first quarter worth approximately $4,465,000. Columbus Circle Investors acquired a new position in shares of Arista Networks during the first quarter worth approximately $42,580,000. Capital Impact Advisors LLC boosted its position in shares of Arista Networks by 46.8% in the first quarter. Capital Impact Advisors LLC now owns 10,331 shares of the technology company’s stock worth $1,366,000 after buying an additional 3,295 shares during the last quarter. Finally, Private Wealth Partners LLC acquired a new position in shares of Arista Networks during the first quarter worth approximately $972,000. 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.
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