KeyCorp reiterated their buy rating on shares of Arista Networks, Inc. (NYSE:ANET) in a report published on Tuesday. The firm currently has a $176.00 price objective on the technology company’s stock.

Several other equities research analysts have also weighed in on the company. Needham & Company LLC reissued a buy rating and issued a $175.00 price objective on shares of Arista Networks in a report on Tuesday, September 12th. BMO Capital Markets reissued an outperform rating on shares of Arista Networks in a report on Tuesday, September 12th. JMP Securities reissued an outperform rating and issued a $185.00 price objective (up previously from $155.00) on shares of Arista Networks in a report on Tuesday, August 15th. William Blair reissued an outperform rating on shares of Arista Networks in a report on Monday, August 14th. Finally, Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $180.00 price objective (up previously from $160.00) on shares of Arista Networks in a report on Wednesday, August 9th. Fifteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $160.00.

Arista Networks (ANET) opened at 191.05 on Tuesday. The firm has a market capitalization of $13.86 billion, a P/E ratio of 49.30 and a beta of 1.30. The company has a 50 day moving average of $171.12 and a 200 day moving average of $150.29. Arista Networks has a 1-year low of $78.82 and a 1-year high of $192.08.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping the 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 during the quarter, compared to analyst estimates of $361.02 million. During the same quarter last year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was up 50.8% on a year-over-year basis. On average, equities research analysts anticipate that Arista Networks will post $4.70 earnings per share for the current year.

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In other Arista Networks news, SVP Kenneth Duda sold 8,687 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $174.94, for a total value of $1,519,703.78. Following the completion of the sale, the senior vice president now owns 1,593 shares in the company, valued at $278,679.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $148.52, for a total value of $297,040.00. Following the completion of the sale, the senior vice president now owns 11,775 shares of the company’s stock, valued at approximately $1,748,823. The disclosure for this sale can be found here. Insiders sold a total of 484,942 shares of company stock valued at $82,414,703 in the last 90 days. 28.09% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ANET. BlackRock Inc. lifted its position in Arista Networks by 34,238.9% in the first quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock valued at $222,784,000 after purchasing an additional 1,679,417 shares during the last quarter. Harbour Capital Advisors LLC lifted its position in Arista Networks by 13,502.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock valued at $8,200,000 after purchasing an additional 1,219,248 shares during the last quarter. FMR LLC lifted its position in Arista Networks by 32.2% in the first quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock valued at $435,004,000 after purchasing an additional 800,465 shares during the last quarter. Koch Industries Inc. bought a new stake in Arista Networks in the second quarter valued at approximately $592,000. Finally, Vanguard Group Inc. lifted its position in Arista Networks by 12.8% in the first quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock valued at $464,830,000 after purchasing an additional 399,688 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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