Arista Networks (NYSE:ANET) Trading 1.5% Higher – Still a Buy?

by · The Markets Daily

Arista Networks, Inc. (NYSE:ANET – Get Free Report)’s stock price was up 1.5% during trading on Thursday . The stock traded as high as $136.40 and last traded at $134.33. Approximately 6,659,750 shares were traded during trading, a decline of 32% from the average daily volume of 9,849,842 shares. The stock had previously closed at $132.36.

Wall Street Analyst Weigh In

ANET has been the topic of a number of research reports. Melius Research raised their price objective on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. William Blair restated an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price on the stock in a research note on Thursday, September 25th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.31.

View Our Latest Research Report on Arista Networks

Arista Networks Trading Up 1.5%

The company’s 50 day moving average is $139.58 and its 200-day moving average is $126.15. The stock has a market cap of $169.16 billion, a PE ratio of 51.08, a P/E/G ratio of 2.49 and a beta of 1.41.

Arista Networks (NYSE:ANET – Get Free Report) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $2.40 earnings per share. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the sale, the chief executive officer owned 9,917 shares in the company, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 274,464 shares of company stock worth $38,250,488 in the last ninety days. 3.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Arista Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AdvisorNet Financial Inc grew its position in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. Knuff & Co LLC acquired a new stake in shares of Arista Networks during the 3rd quarter valued at approximately $29,000. Richardson Financial Services Inc. lifted its stake in Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares during the last quarter. Quarry LP acquired a new position in Arista Networks in the third quarter worth $33,000. Finally, Bare Financial Services Inc boosted its holdings in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. 82.47% of the stock is owned by institutional investors.

About Arista Networks

(Get Free Report)

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.

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