Wall Street analysts expect Arista Networks Inc (NYSE:ANET) to report $652.93 million in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Arista Networks’ earnings, with the lowest sales estimate coming in at $650.90 million and the highest estimate coming in at $655.20 million. Arista Networks reported sales of $563.31 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.9%. The company is expected to announce its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Arista Networks will report full-year sales of $2.55 billion for the current year, with estimates ranging from $2.54 billion to $2.56 billion. For the next fiscal year, analysts expect that the company will post sales of $2.94 billion, with estimates ranging from $2.76 billion to $3.01 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Arista Networks.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.46. The business had revenue of $608.32 million for the quarter, compared to the consensus estimate of $606.78 million. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 earnings per share.

Several equities analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of Arista Networks in a research note on Wednesday. They set an “inline” rating and a $240.00 price objective on the stock. Needham & Company LLC dropped their price target on shares of Arista Networks to $340.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Royal Bank of Canada set a $300.00 price target on shares of Arista Networks and gave the stock a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research raised shares of Arista Networks from a “sell” rating to a “hold” rating and set a $284.00 price target for the company in a research report on Monday, July 8th. Finally, Goldman Sachs Group set a $290.00 price target on shares of Arista Networks and gave the stock a “buy” rating in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and a consensus price target of $303.00.

In other news, SVP Kenneth Duda sold 10,874 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $271.29, for a total value of $2,950,007.46. Following the completion of the sale, the senior vice president now directly owns 1,971 shares of the company’s stock, valued at approximately $534,712.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nikos Theodosopoulos sold 1,360 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $225.31, for a total value of $306,421.60. Following the completion of the sale, the director now directly owns 4,630 shares of the company’s stock, valued at $1,043,185.30. The disclosure for this sale can be found here. Insiders have sold 49,810 shares of company stock worth $12,538,880 in the last quarter. Corporate insiders own 23.83% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Arista Networks by 2.5% in the second quarter. Vanguard Group Inc. now owns 5,777,829 shares of the technology company’s stock worth $1,500,040,000 after purchasing an additional 139,675 shares during the last quarter. BlackRock Inc. lifted its position in shares of Arista Networks by 4.7% during the 2nd quarter. BlackRock Inc. now owns 3,904,300 shares of the technology company’s stock valued at $1,013,633,000 after buying an additional 174,887 shares during the last quarter. FMR LLC lifted its position in shares of Arista Networks by 25.1% during the 1st quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock valued at $615,319,000 after buying an additional 392,021 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Arista Networks by 53.1% during the 2nd quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock valued at $296,967,000 after buying an additional 396,782 shares during the last quarter. Finally, Eaton Vance Management lifted its position in shares of Arista Networks by 2.8% during the 2nd quarter. Eaton Vance Management now owns 964,428 shares of the technology company’s stock valued at $250,380,000 after buying an additional 26,627 shares during the last quarter. 58.78% of the stock is owned by institutional investors.

Shares of ANET traded down $2.33 on Tuesday, hitting $247.61. 19,910 shares of the stock traded hands, compared to its average volume of 632,198. The company has a quick ratio of 5.17, a current ratio of 5.77 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $18.91 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.44 and a beta of 1.55. The stock’s 50 day moving average is $236.71 and its two-hundred day moving average is $269.15. Arista Networks has a 1 year low of $187.08 and a 1 year high of $331.27.

Arista Networks Company Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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