Morgan Stanley Increases Arista Networks (ANET) Price Target to $260.00

Arista Networks (NYSE:ANET) had its price objective boosted by research analysts at Morgan Stanley from $210.00 to $260.00 in a research report issued to clients and investors on Thursday. The firm currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential upside of 9.91% from the company’s previous close.

Several other research analysts have also commented on the company. BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 31st. Royal Bank of Canada raised Arista Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, November 8th. JMP Securities boosted their price objective on Arista Networks from $185.00 to $230.00 and gave the stock a “market perform” rating in a report on Thursday, October 26th. KeyCorp reaffirmed a “buy” rating on shares of Arista Networks in a research note on Friday, November 3rd. Finally, Cowen reaffirmed a “buy” rating and issued a $200.00 target price on shares of Arista Networks in a research note on Friday, November 3rd. Fourteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Arista Networks has a consensus rating of “Buy” and an average target price of $200.14.

Arista Networks (NYSE ANET) opened at $236.55 on Thursday. Arista Networks has a twelve month low of $87.33 and a twelve month high of $245.65. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $17,250.00, a PE ratio of 49.08, a PEG ratio of 2.13 and a beta of 1.38.

In related news, insider Anshul Sadana sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the completion of the transaction, the insider now owns 86,788 shares in the company, valued at $16,485,380.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 127,576 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $235.15, for a total value of $29,999,496.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 613,901 shares of company stock valued at $140,320,427. 28.09% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors raised its holdings in Arista Networks by 2.8% in the second quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock worth $1,135,380,000 after purchasing an additional 209,783 shares in the last quarter. Vanguard Group Inc. raised its holdings in Arista Networks by 7.1% in the second quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after purchasing an additional 249,753 shares in the last quarter. BlackRock Inc. raised its holdings in Arista Networks by 41.1% in 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 in the last quarter. State Street Corp raised its holdings in Arista Networks by 44.7% in 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 in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Arista Networks by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 649,475 shares of the technology company’s stock worth $123,136,000 after purchasing an additional 18,465 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

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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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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