Arista Networks (ANET) Receiving Favorable Media Coverage, Report Shows
News headlines about Arista Networks (NYSE:ANET) have been trending positive on Thursday, according to Accern Sentiment. The research firm identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Arista Networks earned a daily sentiment score of 0.25 on Accern’s scale. Accern also assigned media headlines about the technology company an impact score of 45.2469068828865 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern’s rankings:
- Insider Selling: Arista Networks, Inc. (NYSE:ANET) SVP Sells 8,827 Shares of Stock (americanbankingnews.com)
- Arista Networks, Inc. (NYSE:ANET) Closed 10.7% Above Its 50 Day Moving Average (highlightpress.com)
- Arista Networks, Inc. (NYSE:ANET) Trading Down – Insider Trading Activity (modernreaders.com)
- Yelp (YELP) and Arista Networks (ANET) are Aggressive Growth Rank Buys (finance.yahoo.com)
- Earnings Estimates Moving Higher for Arista Networks (ANET): Time to Buy? (finance.yahoo.com)
ANET has been the subject of a number of recent analyst reports. MKM Partners reaffirmed a “neutral” rating and set a $125.00 target price (up previously from $100.00) on shares of Arista Networks in a report on Tuesday, May 9th. Jefferies Group LLC reissued a “hold” rating and set a $145.00 price objective (up previously from $120.00) on shares of Arista Networks in a report on Wednesday. Deutsche Bank AG reissued a “buy” rating and set a $165.00 price objective (up previously from $156.00) on shares of Arista Networks in a report on Monday, July 17th. William Blair raised Arista Networks from a “market perform” rating to an “outperform” rating in a report on Friday, August 4th. Finally, Barclays PLC boosted their price objective on Arista Networks from $161.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, June 15th. Sixteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $153.32.
Shares of Arista Networks (ANET) traded down 1.65% during trading on Thursday, hitting $164.70. The company had a trading volume of 1,491,725 shares. The stock’s 50-day moving average price is $155.07 and its 200 day moving average price is $136.12. The company has a market capitalization of $11.95 billion, a P/E ratio of 42.50 and a beta of 1.33. Arista Networks has a 52 week low of $75.06 and a 52 week high of $176.50.
Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The business had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. During the same period last year, the business posted $0.74 EPS. The business’s revenue was up 50.8% compared to the same quarter last year. On average, equities research analysts forecast that Arista Networks will post $4.61 earnings per share for the current year.
In other news, insider Jayshree Ullal sold 63,928 shares of Arista Networks stock in a transaction on Monday, May 15th. The stock was sold at an average price of $147.19, for a total value of $9,409,562.32. Following the transaction, the insider now directly owns 1,288 shares in the company, valued at approximately $189,580.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $147.51, for a total value of $295,020.00. Following the completion of the transaction, the senior vice president now owns 11,775 shares in the company, valued at $1,736,930.25. The disclosure for this sale can be found here. Insiders sold a total of 855,843 shares of company stock worth $138,552,273 over the last quarter. Company insiders own 28.09% of the company’s stock.
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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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