Arista Networks, Inc. (NYSE:ANET) Receives $275.59 Consensus Target Price from Brokerages

Arista Networks, Inc. (NYSE:ANET) has earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $275.59.

Several brokerages have recently weighed in on ANET. Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a research report on Wednesday, March 27th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Finally, Wells Fargo & Company lifted their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th.

Arista Networks Trading Down 4.4 %

ANET opened at $245.99 on Friday. Arista Networks has a 12 month low of $131.68 and a 12 month high of $307.74. The company has a market cap of $76.90 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. The company has a 50 day moving average of $280.29 and a 200 day moving average of $244.55.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. Research analysts forecast that Arista Networks will post 6.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Marc Taxay sold 11,650 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.28, for a total transaction of $3,335,162.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,229 shares of company stock valued at $97,968,530. Corporate insiders own 18.99% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Large investors have recently added to or reduced their stakes in the company. AXQ Capital LP purchased a new position in Arista Networks during the 3rd quarter valued at about $791,000. Advisor Resource Council increased its stake in shares of Arista Networks by 507.9% during the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after buying an additional 5,866 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Arista Networks by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after acquiring an additional 194 shares in the last quarter. WCM Investment Management LLC lifted its stake in Arista Networks by 0.5% in the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after acquiring an additional 16,081 shares during the period. Finally, Cambridge Trust Co. boosted its holdings in Arista Networks by 70.1% in the third quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock valued at $9,243,000 after acquiring an additional 20,704 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.