Brokerages Set Arista Networks, Inc. (NYSE:ANET) Target Price at $100.70

by · The Markets Daily

Arista Networks, Inc. (NYSE:ANET – Get Free Report) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $100.70.

Several brokerages have recently issued reports on ANET. Rosenblatt Securities upped their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group lifted their target price on Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a report on Tuesday, September 24th. Barclays dropped their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their target price on Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a report on Tuesday, October 1st.

Check Out Our Latest Analysis on Arista Networks

Insiders Place Their Bets

In other news, SVP Marc Taxay sold 2,496 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $97.09, for a total transaction of $242,342.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders sold 353,476 shares of company stock worth $36,841,998 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its position in Arista Networks by 50.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 66,211 shares of the technology company’s stock valued at $23,206,000 after buying an additional 22,307 shares during the period. GYL Financial Synergies LLC lifted its position in shares of Arista Networks by 3.0% in the second quarter. GYL Financial Synergies LLC now owns 5,354 shares of the technology company’s stock worth $1,876,000 after purchasing an additional 155 shares in the last quarter. &PARTNERS boosted its holdings in shares of Arista Networks by 102.8% during the second quarter. &PARTNERS now owns 4,045 shares of the technology company’s stock worth $1,417,000 after purchasing an additional 2,050 shares during the period. LVZ Inc. grew its position in Arista Networks by 53.0% during the second quarter. LVZ Inc. now owns 1,590 shares of the technology company’s stock valued at $557,000 after purchasing an additional 551 shares in the last quarter. Finally, Catalina Capital Group LLC increased its stake in Arista Networks by 6.3% in the 2nd quarter. Catalina Capital Group LLC now owns 930 shares of the technology company’s stock valued at $326,000 after buying an additional 55 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

ANET opened at $113.09 on Thursday. Arista Networks has a 12 month low of $56.65 and a 12 month high of $116.94. The stock has a market capitalization of $142.47 billion, a P/E ratio of 54.37, a P/E/G ratio of 3.21 and a beta of 1.10. The business has a 50 day simple moving average of $102.17 and a 200-day simple moving average of $92.60.

Arista Networks (NYSE:ANET – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s revenue was up 20.0% on a year-over-year basis. Research analysts anticipate that Arista Networks will post 1.96 EPS for the current year.

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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