Shares of Arista Networks Inc (NYSE:ANET) have been given a consensus recommendation of “Buy” by the twenty-seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $303.00.
A number of research analysts have recently commented on ANET shares. JMP Securities reissued an “outperform” rating and set a $280.00 price target (down from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Piper Jaffray Companies reissued an “overweight” rating and set a $330.00 price target (down from $340.00) on shares of Arista Networks in a report on Friday, June 7th. Morgan Stanley lowered their price target on Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a report on Friday, June 7th. Evercore ISI started coverage on Arista Networks in a report on Wednesday. They set an “inline” rating and a $240.00 price target on the stock. Finally, Royal Bank of Canada set a $300.00 price target on Arista Networks and gave the company a “buy” rating in a report on Friday, July 19th.
In related news, COO Anshul Sadana sold 8,325 shares of Arista Networks stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $280.96, for a total transaction of $2,338,992.00. Following the transaction, the chief operating officer now directly owns 2,741 shares of the company’s stock, valued at $770,111.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $225.20, for a total value of $450,400.00. Following the completion of the transaction, the senior vice president now owns 13,228 shares of the company’s stock, valued at approximately $2,978,945.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,936 shares of company stock worth $9,985,447. 23.83% of the stock is owned by corporate insiders.
Shares of ANET traded up $2.46 during trading hours on Thursday, reaching $249.27. 551,580 shares of the company’s stock traded hands, compared to its average volume of 903,345. The firm has a market capitalization of $18.92 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 1.40 and a beta of 1.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17. Arista Networks has a twelve month low of $187.08 and a twelve month high of $331.27. The business’s fifty day simple moving average is $236.71 and its two-hundred day simple moving average is $269.15.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.46. The company had revenue of $608.32 million for the quarter, compared to analyst estimates of $606.78 million. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. On average, equities research analysts expect that Arista Networks will post 8.67 EPS for the current year.
About Arista Networks
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, including universal leaf, spline, and universal spine products.
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