Arista Networks, Inc. (NYSE:ANET) Receives $358.63 Consensus PT from Analysts

Arista Networks, Inc. (NYSE:ANET) has been given an average rating of “Moderate Buy” by the twenty brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $358.63.

ANET has been the subject of a number of analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research report on Friday. Barclays increased their target price on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities increased their target price on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Jefferies Financial Group increased their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th.

Arista Networks Trading Up 1.2 %

ANET opened at $359.76 on Tuesday. The stock has a market cap of $113.02 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 2.70 and a beta of 1.07. Arista Networks has a 1 year low of $168.25 and a 1 year high of $376.50. The stock has a fifty day moving average price of $341.07 and a 200 day moving average price of $313.64.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts forecast that Arista Networks will post 7.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,800 shares in the company, valued at $555,477,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the completion of the transaction, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,989 shares of company stock worth $37,891,416. 3.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Large investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks during the first quarter worth $26,000. Beacon Capital Management LLC increased its position in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks during the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks during the second quarter worth $33,000. Institutional investors own 82.47% of the company’s stock.

About Arista Networks

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.