Arista Networks’ (ANET) Outperform Rating Reaffirmed at BMO Capital Markets
Arista Networks, Inc. (NYSE:ANET)‘s stock had its “outperform” rating restated by investment analysts at BMO Capital Markets in a report released on Tuesday.
Several other equities research analysts have also recently issued reports on ANET. Barclays PLC reiterated a “buy” rating and issued a $161.00 price objective on shares of Arista Networks in a report on Monday, May 15th. CIBC reiterated a “buy” rating and issued a $160.00 price objective on shares of Arista Networks in a report on Monday, May 15th. Cowen and Company lifted their price objective on Arista Networks from $123.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. JMP Securities lifted their price objective on Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Finally, DA Davidson cut Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 price objective on the stock. in a report on Monday, May 22nd. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $154.40.
Arista Networks (NYSE ANET) opened at 175.31 on Tuesday. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 45.24 and a beta of 1.30. Arista Networks has a 52 week low of $78.82 and a 52 week high of $179.71. The company’s 50-day moving average price is $166.80 and its 200-day moving average price is $147.59.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. During the same period in the previous year, the firm posted $0.74 EPS. Arista Networks’s revenue was up 50.8% compared to the same quarter last year. Equities analysts forecast that Arista Networks will post $4.69 earnings per share for the current fiscal year.
In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $176.09, for a total value of $352,180.00. Following the sale, the senior vice president now owns 13,002 shares of the company’s stock, valued at $2,289,522.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jayshree Ullal sold 8,001 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $157.28, for a total value of $1,258,397.28. Following the completion of the sale, the insider now directly owns 2,576 shares in the company, valued at approximately $405,153.28. The disclosure for this sale can be found here. In the last three months, insiders sold 625,645 shares of company stock worth $104,637,245. 28.09% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Achmea Investment Management B.V. purchased a new stake in shares of Arista Networks during the second quarter worth $314,000. Navellier & Associates Inc increased its position in shares of Arista Networks by 98.8% during the second quarter. Navellier & Associates Inc now owns 67,115 shares of the technology company’s stock worth $10,053,000 after acquiring an additional 33,355 shares during the period. Advisory Services Network LLC increased its position in shares of Arista Networks by 609.5% during the second quarter. Advisory Services Network LLC now owns 1,568 shares of the technology company’s stock worth $235,000 after acquiring an additional 1,347 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Arista Networks by 44.6% during the second quarter. Public Employees Retirement System of Ohio now owns 22,121 shares of the technology company’s stock worth $3,314,000 after acquiring an additional 6,823 shares during the period. Finally, Koch Industries Inc. purchased a new stake in shares of Arista Networks during the second quarter worth $592,000. 59.40% of the stock is currently owned by institutional investors and hedge funds.
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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