Brokerages Expect Arista Networks Inc (ANET) Will Post Quarterly Sales of $464.20 Million

Wall Street analysts expect Arista Networks Inc (NYSE:ANET) to report $464.20 million in sales for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Arista Networks’ earnings. The lowest sales estimate is $457.00 million and the highest is $470.40 million. Arista Networks posted sales of $327.97 million in the same quarter last year, which would indicate a positive year over year growth rate of 41.5%. The firm is expected to report its next earnings results after the market closes on Thursday, February 15th.

According to Zacks, analysts expect that Arista Networks will report full year sales of $464.20 million for the current year, with estimates ranging from $1.64 billion to $1.65 billion. For the next year, analysts forecast that the firm will report sales of $2.07 billion per share, with estimates ranging from $1.94 billion to $2.15 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Arista Networks.

Several analysts have weighed in on the stock. DA Davidson upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Friday, November 3rd. Piper Jaffray Companies assumed coverage on shares of Arista Networks in a research note on Monday, November 13th. They issued a “neutral” rating and a $230.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $217.00 price objective (up previously from $175.00) on shares of Arista Networks in a research note on Friday, November 3rd. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and issued a $270.00 target price on shares of Arista Networks in a report on Thursday, December 14th. Finally, Royal Bank of Canada raised their target price on shares of Arista Networks from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, November 3rd. Fifteen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $223.31.

In related news, insider Andreas Bechtolsheim sold 39,680 shares of Arista Networks stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $241.92, for a total transaction of $9,599,385.60. Following the sale, the insider now directly owns 73,102 shares of the company’s stock, valued at approximately $17,684,835.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anshul Sadana sold 24,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $256.25, for a total transaction of $6,150,000.00. Following the sale, the insider now directly owns 80,972 shares in the company, valued at $20,749,075. The disclosure for this sale can be found here. Insiders have sold a total of 458,126 shares of company stock worth $108,380,024 over the last ninety days. 28.09% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after acquiring an additional 126 shares during the last quarter. M&T Bank Corp grew its holdings in Arista Networks by 6.4% during the 2nd quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock worth $347,000 after acquiring an additional 140 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Arista Networks by 7.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,646 shares of the technology company’s stock worth $623,000 after acquiring an additional 193 shares during the last quarter. IFC Holdings Incorporated FL grew its holdings in Arista Networks by 2.7% during the 3rd quarter. IFC Holdings Incorporated FL now owns 10,789 shares of the technology company’s stock worth $2,045,000 after acquiring an additional 280 shares during the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in Arista Networks by 17.4% during the 3rd quarter. Pittenger & Anderson Inc. now owns 1,955 shares of the technology company’s stock worth $371,000 after acquiring an additional 290 shares during the last quarter. 58.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Arista Networks (NYSE:ANET) traded up $8.03 during trading on Wednesday, reaching $272.55. 1,147,049 shares of the company’s stock traded hands, compared to its average volume of 812,271. Arista Networks has a twelve month low of $97.27 and a twelve month high of $289.07. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. The firm has a market cap of $20,530.00, a PE ratio of 56.55, a price-to-earnings-growth ratio of 2.04 and a beta of 1.47.

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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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