Arista Networks (NYSE:ANET) Trading Up 2.7% – Should You Buy?

Arista Networks, Inc. (NYSE:ANET)’s share price was up 2.7% on Friday . The company traded as high as $112.32 and last traded at $112.06. Approximately 1,740,925 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 8,784,883 shares. The stock had previously closed at $109.07.

Analyst Ratings Changes

A number of analysts have recently weighed in on ANET shares. Rosenblatt Securities boosted their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Citigroup boosted their target price on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $100.70.

Arista Networks Trading Up 3.4 %

The stock has a market cap of $142.11 billion, a P/E ratio of 54.24, a price-to-earnings-growth ratio of 3.21 and a beta of 1.10. The company’s fifty day simple moving average is $102.17 and its 200-day simple moving average is $92.48.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts expect that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John F. Mccool sold 2,320 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $97.09, for a total transaction of $225,254.60. Following the transaction, the insider now owns 288 shares in the company, valued at $27,962.64. This represents a 88.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 2,496 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $97.09, for a total transaction of $242,342.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,476 shares of company stock worth $36,841,998. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation N.A. lifted its position in Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares in the last quarter. Intellectus Partners LLC lifted its position in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the period. First Affirmative Financial Network lifted its position in Arista Networks by 4.3% during the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after purchasing an additional 28 shares during the period. Altman Advisors Inc. lifted its position in Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares during the period. Finally, Everpar Advisors LLC lifted its position in Arista Networks by 1.5% during the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Company Profile

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.