Several other research firms have also recently commented on ANET. Stifel Nicolaus restated a buy rating on shares of Arista Networks in a research note on Wednesday, February 8th. Cowen and Company reiterated an outperform rating and issued a $123.00 price objective on shares of Arista Networks in a research note on Tuesday, March 14th. DA Davidson initiated coverage on shares of Arista Networks in a research note on Wednesday, January 25th. They issued a buy rating and a $118.00 price objective for the company. Barclays PLC reiterated an overweight rating on shares of Arista Networks in a research note on Thursday, January 19th. Finally, Goldman Sachs Group Inc reiterated a sell rating and issued a $60.00 price objective on shares of Arista Networks in a research note on Thursday, February 16th. Fourteen analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $128.52.
Shares of Arista Networks (NYSE:ANET) traded up 0.38% during mid-day trading on Friday, hitting $144.02. The stock had a trading volume of 407,208 shares. The company’s 50 day moving average is $138.42 and its 200-day moving average is $111.54. The stock has a market cap of $10.37 billion, a P/E ratio of 46.52 and a beta of 1.15. Arista Networks has a 52-week low of $60.51 and a 52-week high of $148.60.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, May 4th. The technology company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The company had revenue of $335.48 million during the quarter, compared to analysts’ expectations of $326.19 million. During the same quarter last year, the business earned $0.68 EPS. The business’s revenue was up 38.5% on a year-over-year basis. On average, equities research analysts anticipate that Arista Networks will post $3.93 earnings per share for the current fiscal year.
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In other Arista Networks news, insider Anshul Sadana sold 21,000 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $130.00, for a total transaction of $2,730,000.00. Following the sale, the insider now owns 103,524 shares in the company, valued at approximately $13,458,120. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $131.65, for a total value of $263,300.00. Following the sale, the senior vice president now owns 10,650 shares in the company, valued at approximately $1,402,072.50. The disclosure for this sale can be found here. Insiders sold a total of 294,164 shares of company stock valued at $42,532,109 over the last three months. 32.39% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado increased its position in shares of Arista Networks by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,257 shares of the technology company’s stock worth $107,000 after buying an additional 5 shares in the last quarter. Flinton Capital Management LLC acquired a new position in shares of Arista Networks during the fourth quarter worth $153,000. SG Americas Securities LLC acquired a new position in shares of Arista Networks during the first quarter worth $164,000. Financial Architects Inc increased its position in shares of Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock worth $166,000 after buying an additional 877 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its position in shares of Arista Networks by 255.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 1,935 shares of the technology company’s stock worth $187,000 after buying an additional 1,390 shares in the last quarter. Institutional investors own 54.94% 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.
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