Arista Networks (NYSE:ANET) Price Target Raised to $175.00

Arista Networks (NYSE:ANETGet Rating) had its price objective upped by Rosenblatt Securities from $160.00 to $175.00 in a research note released on Monday, MarketBeat.com reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities analysts also recently commented on the stock. StockNews.com began coverage on shares of Arista Networks in a research report on Wednesday, October 12th. They set a buy rating on the stock. Citigroup raised their price target on Arista Networks from $170.00 to $190.00 in a research report on Friday, November 4th. Evercore ISI raised their price target on Arista Networks from $135.00 to $145.00 and gave the company an outperform rating in a research report on Tuesday, August 2nd. Credit Suisse Group raised their price target on Arista Networks from $119.00 to $140.00 and gave the company a neutral rating in a research report on Monday, November 7th. Finally, Needham & Company LLC raised their price target on Arista Networks from $140.00 to $155.00 and gave the company a buy rating in a research report on Friday, November 4th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $167.32.

Arista Networks Trading Up 0.8 %

NYSE ANET opened at $137.19 on Monday. Arista Networks has a 1-year low of $89.11 and a 1-year high of $148.57. The company has a market capitalization of $41.92 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27. The firm’s fifty day simple moving average is $118.46 and its 200-day simple moving average is $112.19.

Arista Networks (NYSE:ANETGet Rating) last posted its quarterly earnings results on Monday, October 31st. The technology company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.06 billion. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. Arista Networks’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, analysts predict that Arista Networks will post 3.78 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the transaction, the director now owns 96,946 shares in the company, valued at $12,126,005.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the sale, the director now owns 96,946 shares of the company’s stock, valued at $12,126,005.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $127.38, for a total transaction of $2,547,600.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $413,220.72. The disclosure for this sale can be found here. Insiders sold a total of 70,476 shares of company stock worth $8,515,503 over the last quarter. Company insiders own 19.59% of the company’s stock.

Institutional Trading of Arista Networks

Hedge funds have recently modified their holdings of the company. MV Capital Management Inc. increased its holdings in shares of Arista Networks by 172.7% during the third quarter. MV Capital Management Inc. now owns 270 shares of the technology company’s stock worth $30,000 after buying an additional 171 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new stake in shares of Arista Networks in the first quarter valued at approximately $39,000. Janiczek Wealth Management LLC increased its holdings in shares of Arista Networks by 73.0% in the third quarter. Janiczek Wealth Management LLC now owns 275 shares of the technology company’s stock valued at $30,000 after purchasing an additional 116 shares in the last quarter. Nvwm LLC acquired a new stake in shares of Arista Networks in the first quarter valued at approximately $53,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of Arista Networks in the first quarter valued at approximately $66,000. Institutional investors and hedge funds own 63.82% of the company’s stock.

Arista Networks Company Profile

(Get Rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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