Arista Networks’ (ANET) Buy Rating Reiterated at Citigroup

Citigroup reiterated their buy rating on shares of Arista Networks (NYSE:ANET) in a research note released on Monday. They currently have a $275.00 price target on the technology company’s stock. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently weighed in on ANET. KeyCorp reiterated a buy rating and issued a $200.00 price target on shares of Arista Networks in a research report on Friday, September 29th. BMO Capital Markets cut Arista Networks from an outperform rating to a market perform rating and set a $190.00 price target for the company. in a research report on Thursday, September 28th. They noted that the move was a valuation call. Berenberg Bank assumed coverage on Arista Networks in a research report on Tuesday, September 26th. They issued a buy rating and a $225.00 price target for the company. Stifel Nicolaus reiterated a buy rating and issued a $270.00 price target on shares of Arista Networks in a research report on Thursday, December 14th. Finally, Wells Fargo & Company assumed coverage on Arista Networks in a research report on Tuesday, November 14th. They issued a market perform rating and a $235.00 price target for the company. Fourteen investment 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’s stock. The stock currently has an average rating of Buy and a consensus price target of $200.14.

Arista Networks (NYSE ANET) opened at $235.96 on Monday. The firm has a market capitalization of $17,250.00, a price-to-earnings ratio of 56.29, a PEG ratio of 2.13 and a beta of 1.38. Arista Networks has a 52-week low of $87.33 and a 52-week high of $245.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $190.47, for a total transaction of $380,940.00. Following the completion of the sale, the senior vice president now owns 13,002 shares of the company’s stock, valued at $2,476,490.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andreas Bechtolsheim sold 132,370 shares of Arista Networks stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $240.17, for a total value of $31,791,302.90. Following the sale, the insider now directly owns 73,102 shares of the company’s stock, valued at approximately $17,556,907.34. The disclosure for this sale can be found here. Insiders have sold 613,901 shares of company stock valued at $140,320,427 in the last three months. 28.09% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of ANET. BlackRock Inc. lifted its stake in Arista Networks by 41.1% during the second quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock worth $356,048,000 after purchasing an additional 692,651 shares during the last quarter. Koch Industries Inc. bought a new stake in Arista Networks during the second quarter worth about $592,000. State Street Corp lifted its stake in Arista Networks by 44.7% during the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 328,534 shares during the last quarter. Atlantic Trust Group LLC bought a new stake in Arista Networks during the third quarter worth about $50,736,000. Finally, Vanguard Group Inc. lifted its stake in shares of Arista Networks by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock valued at $563,810,000 after acquiring an additional 249,753 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

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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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