Arista Networks (NYSE:ANET) Price Target Raised to $130.00 at Evercore ISI

Arista Networks (NYSE:ANET) had its price target boosted by Evercore ISI from $110.00 to $130.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on the company. Barclays lowered their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company lifted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Up 1.4 %

Shares of ANET stock opened at $119.78 on Friday. Arista Networks has a fifty-two week low of $60.08 and a fifty-two week high of $120.98. The business has a fifty day simple moving average of $107.45 and a 200-day simple moving average of $96.74. The stock has a market cap of $150.90 billion, a P/E ratio of 57.59, a P/E/G ratio of 3.09 and a beta of 1.08.

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

Insider Activity

In other news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 2,496 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $96.83, for a total value of $241,693.92. 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. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several large investors have recently bought and sold shares of ANET. Dimensional Fund Advisors LP boosted its stake in shares of Arista Networks by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 596,220 shares of the technology company’s stock valued at $208,962,000 after purchasing an additional 32,480 shares during the period. Waterloo Capital L.P. acquired a new stake in shares of Arista Networks during the second quarter valued at about $217,000. Brighton Jones LLC increased its position in shares of Arista Networks by 8.8% during the second quarter. Brighton Jones LLC now owns 1,650 shares of the technology company’s stock worth $578,000 after acquiring an additional 134 shares during the last quarter. Ieq Capital LLC boosted its holdings in Arista Networks by 8.7% in the second quarter. Ieq Capital LLC now owns 34,019 shares of the technology company’s stock valued at $11,923,000 after purchasing an additional 2,719 shares during the last quarter. Finally, Trust Investment Advisors acquired a new stake in Arista Networks during the 2nd quarter valued at approximately $215,000. 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.