Arista Networks, Inc. (NYSE:ANET) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Arista Networks, Inc. (NYSE:ANET) have been assigned an average rating of “Moderate Buy” from the seventeen analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $105.83.

A number of equities research analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Piper Sandler reiterated a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th.

Arista Networks Stock Performance

Shares of ANET opened at $119.78 on Monday. The firm has a market cap of $150.90 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 3.09 and a beta of 1.08. Arista Networks has a fifty-two week low of $60.08 and a fifty-two week high of $120.98. The firm has a 50 day moving average price of $107.45 and a 200-day moving average price of $96.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. As a group, equities research analysts predict that Arista Networks will post 1.97 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 345,316 shares of company stock valued at $37,761,976 in the last three months. 3.54% of the stock is currently owned by company insiders.

Institutional Trading of Arista Networks

Institutional investors have recently made changes to their positions in the stock. Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after acquiring an additional 253 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Arista Networks during the 2nd quarter valued at about $35,000. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 372 shares of the technology company’s stock valued at $41,000 after acquiring an additional 279 shares during the last quarter. Hedge funds and other institutional investors 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.