DA Davidson upgraded shares of Arista Networks, Inc. (NYSE:ANET) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat Ratings reports. The brokerage currently has $224.00 price target on the technology company’s stock.
Several other equities research analysts have also commented on the stock. BidaskClub raised shares of Arista Networks from a buy rating to a strong-buy rating in a report on Tuesday, October 31st. JMP Securities upped their price target on shares of Arista Networks from $185.00 to $230.00 and gave the company a market perform rating in a report on Thursday, October 26th. Deutsche Bank AG reaffirmed a buy rating and issued a $210.00 price target (up from $185.00) on shares of Arista Networks in a report on Monday, October 9th. KeyCorp reiterated a buy rating and issued a $200.00 price objective on shares of Arista Networks in a research report on Friday, September 29th. Finally, BMO Capital Markets downgraded shares of Arista Networks from an outperform rating to a market perform rating and set a $190.00 price objective for the company. in a research report on Thursday, September 28th. They noted that the move was a valuation call. Fifteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $180.21.
Arista Networks (ANET) traded up $2.55 during trading hours on Friday, reaching $204.04. 197,388 shares of the company’s stock traded hands, compared to its average volume of 762,498. Arista Networks has a one year low of $79.05 and a one year high of $202.15. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.60 and a current ratio of 3.19. The stock has a market capitalization of $14,729.05, a price-to-earnings ratio of 48.44, a price-to-earnings-growth ratio of 2.56 and a beta of 1.31.
Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 25.10% and a return on equity of 26.23%. The company had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was up 50.8% on a year-over-year basis. research analysts predict that Arista Networks will post 4.08 EPS for the current year.
In other news, insider Ita M. Brennan sold 3,500 shares of the 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 completion of the sale, the insider now owns 16,903 shares of the company’s stock, valued at approximately $2,976,956.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $176.09, for a total transaction of $352,180.00. Following the completion of the sale, the senior vice president now directly owns 13,002 shares of the company’s stock, valued at approximately $2,289,522.18. The disclosure for this sale can be found here. In the last three months, insiders sold 49,789 shares of company stock valued at $9,016,392. Corporate insiders own 28.09% of the company’s stock.
Several institutional investors have recently bought and sold shares of ANET. SG Americas Securities LLC purchased a new stake in shares of Arista Networks in the 1st quarter valued at approximately $164,000. Legal & General Group Plc boosted its position in shares of Arista Networks by 209.1% during the 1st quarter. Legal & General Group Plc now owns 13,398 shares of the technology company’s stock worth $1,772,000 after purchasing an additional 9,064 shares during the period. Morgan Stanley boosted its position in shares of Arista Networks by 21.4% during the 1st quarter. Morgan Stanley now owns 206,066 shares of the technology company’s stock worth $27,257,000 after purchasing an additional 36,323 shares during the period. BlackRock Inc. boosted its position in shares of Arista Networks by 34,238.9% during the 1st quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock worth $222,784,000 after purchasing an additional 1,679,417 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Arista Networks by 6.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 112,315 shares of the technology company’s stock worth $14,856,000 after purchasing an additional 6,948 shares during the period. 59.43% of the stock is owned by institutional investors and hedge funds.
Arista Networks Company Profile
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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