Arista Networks (ANET) Given New $270.00 Price Target at Oppenheimer

Arista Networks (NYSE:ANET) had its price objective raised by Oppenheimer from $200.00 to $270.00 in a research note published on Monday morning. The firm currently has an outperform rating on the technology company’s stock.

ANET has been the topic of several other reports. UBS Group increased their price objective on shares of Arista Networks from $165.00 to $200.00 and gave the stock a neutral rating in a report on Friday, November 3rd. Morgan Stanley increased their price objective on shares of Arista Networks from $210.00 to $260.00 and gave the stock an overweight rating in a report on Thursday, December 21st. BidaskClub upgraded shares of Arista Networks from a buy rating to a strong-buy rating in a report on Tuesday, October 31st. Needham & Company LLC reiterated a buy rating and set a $175.00 price objective on shares of Arista Networks in a report on Tuesday, September 12th. Finally, DA Davidson upgraded shares of Arista Networks from a neutral rating to a buy rating and set a $224.00 price objective on the stock in a report on Friday, November 3rd. Fourteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Arista Networks currently has an average rating of Buy and a consensus target price of $203.24.

Shares of Arista Networks (NYSE:ANET) traded down $1.08 during mid-day trading on Monday, hitting $249.98. 706,741 shares of the stock traded hands, compared to its average volume of 793,494. The stock has a market cap of $18,270.00, a price-to-earnings ratio of 51.86, a P/E/G ratio of 1.81 and a beta of 1.38. Arista Networks has a 1-year low of $87.33 and a 1-year high of $252.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.

In other news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $230.09, for a total transaction of $460,180.00. Following the completion of the transaction, the senior vice president now directly owns 12,335 shares in the company, valued at approximately $2,838,160.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anshul Sadana sold 12,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $189.95, for a total value of $2,279,400.00. Following the transaction, the insider now owns 86,788 shares of the company’s stock, valued at $16,485,380.60. The disclosure for this sale can be found here. Insiders sold 606,126 shares of company stock valued at $138,901,364 in the last ninety days. 28.09% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in ANET. BlackRock Inc. boosted its stake in shares of Arista Networks by 41.1% during the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock valued at $356,048,000 after buying an additional 692,651 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Arista Networks during the 2nd quarter valued at approximately $592,000. State Street Corp boosted its stake in shares of Arista Networks by 44.7% during the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock valued at $159,278,000 after buying an additional 328,534 shares during the last quarter. Atlantic Trust Group LLC purchased a new position in shares of Arista Networks during the 3rd quarter valued at approximately $50,736,000. Finally, Vanguard Group Inc. lifted its stake in Arista Networks by 7.1% during 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 during the last quarter. Institutional investors 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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