BidaskClub upgraded shares of Arista Networks, Inc. (NYSE:ANET) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other analysts have also weighed in on the company. Morgan Stanley upgraded Arista Networks from an equal weight rating to an overweight rating and increased their target price for the stock from $125.00 to $210.00 in a research note on Wednesday. KeyCorp reiterated a buy rating and issued a $176.00 target price on shares of Arista Networks in a research note on Tuesday, September 19th. Needham & Company LLC reiterated a buy rating and issued a $175.00 target price on shares of Arista Networks in a research note on Tuesday, September 12th. BMO Capital Markets reiterated an outperform rating on shares of Arista Networks in a research note on Tuesday, September 12th. Finally, JMP Securities reiterated an outperform rating and issued a $185.00 target price (up previously from $155.00) on shares of Arista Networks in a research note on Tuesday, August 15th. Fourteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Arista Networks presently has an average rating of Buy and a consensus target price of $160.00.

Shares of Arista Networks (NYSE ANET) traded up 2.04% on Friday, reaching $191.05. 906,985 shares of the company’s stock were exchanged. Arista Networks has a one year low of $78.82 and a one year high of $192.08. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of 49.30 and a beta of 1.30. The company’s 50 day moving average is $171.12 and its 200-day moving average is $150.29.

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, topping analysts’ consensus estimates 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 analyst estimates of $361.02 million. During the same quarter last year, the firm posted $0.74 earnings per share. The business’s revenue was up 50.8% compared to the same quarter last year. On average, analysts anticipate that Arista Networks will post $4.70 EPS for the current year.

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In related news, SVP Kenneth Duda sold 8,687 shares of Arista Networks stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $174.94, for a total transaction of $1,519,703.78. Following the completion of the transaction, the senior vice president now directly owns 1,593 shares in the company, valued at $278,679.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ita M. Brennan sold 3,500 shares of Arista Networks stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $176.12, for a total value of $616,420.00. Following the transaction, the insider now owns 16,903 shares of the company’s stock, valued at $2,976,956.36. The disclosure for this sale can be found here. Insiders have sold 484,942 shares of company stock valued at $82,414,703 in the last ninety days. Corporate insiders own 28.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. raised its position in Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after acquiring an additional 30 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after acquiring an additional 126 shares in the last quarter. M&T Bank Corp raised its position in Arista Networks by 6.4% during the second quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock valued at $347,000 after acquiring an additional 140 shares in the last quarter. First United Bank Trust raised its position in Arista Networks by 2.5% during the second quarter. First United Bank Trust now owns 6,510 shares of the technology company’s stock valued at $975,000 after acquiring an additional 160 shares in the last quarter. Finally, Affinity Wealth Management raised its position in Arista Networks by 11.6% during the second quarter. Affinity Wealth Management now owns 2,158 shares of the technology company’s stock valued at $323,000 after acquiring an additional 224 shares in the last quarter. 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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