Arista Networks, Inc. (NYSE:ANET) Given Average Rating of “Moderate Buy” by Analysts


Arista Networks, Inc. (NYSE:ANET – Get Rating) has received a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $147.31.

A number of brokerages recently commented on ANET. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Rosenblatt Securities started coverage on Arista Networks in a research note on Tuesday, July 12th. They issued a “buy” rating and a $140.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Arista Networks from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Oppenheimer reaffirmed a “market perform” rating and issued a $305.00 price objective on shares of Arista Networks in a research note on Wednesday, May 4th. Finally, Bank of America lowered Arista Networks from a “buy” rating to an “underperform” rating and lowered their price objectively for the company from $140.00 to $105.00 in a research note on Wednesday, July 20th.

Arista Networks Trading Up 5.6 %

Shares of Arista Networks stock opened at $109.10 on Thursday. The stock has a 50 day moving average of $99.47 and a 200 day moving average of $115.23. Arista Networks has a 12 month low of $85.18 and a 12 month high of $148.57. The firm has a market cap of $33.63 billion, a PE ratio of 37.36, a PEG ratio of 1.76 and a beta of 1.28.

Arista Networks (NYSE:ANET – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The technology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. Arista Networks had a return on equity of 21.16% and a net margin of 29.54%. The company had revenue of $877.07 million during the quarter, compared to analyst estimates of $854.01 million. During the same period in the prior year, the company earned $0.57 earnings per share. As a group, equities research analysts forecast that Arista Networks will post 3.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $115.71, for a total transaction of $120,801.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of Arista Networks stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $115.71, for a total transaction of $120,801.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 6,660 shares of Arista Networks stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $116.57, for a total value of $776,356.20. Following the sale, the director now directly owns 118,926 shares of the company’s stock, valued at approximately $13,863,203.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 531,976 shares of company stock valued at $54,986,459. 19.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors have recently modified their holdings of ANET. National Bank of Canada FI purchased a new position in shares of Arista Networks during the 4th quarter valued at about $1,278,000. Van ECK Associates Corp raised its stake in shares of Arista Networks by 326.5% during the 4th quarter. Van ECK Associates Corp now owns 21,795 shares of the technology company’s stock valued at $3,133,000 after buying an additional 16,685 shares during the last quarter. NN Investment Partners Holdings NV raised its stake in shares of Arista Networks by 351.6% during the 4th quarter. NN Investment Partners Holdings NV now owns 58,587 shares of the technology company’s stock valued at $8,423,000 after buying an additional 45,615 shares during the last quarter. Conning Inc. purchased a new position in shares of Arista Networks during the 4th quarter valued at about $231,000. Finally, State of Michigan Retirement System raised its stake in shares of Arista Networks by 301.4% during the 4th quarter. State of Michigan Retirement System now owns 56,480 shares of the technology company’s stock valued at $8,119,000 after buying an additional 42,410 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Arista Networks Company Profile

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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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