Zacks: Brokerages Expect Arista Networks Inc (NYSE:ANET) Will Post Earnings of $1.92 Per Share

Wall Street analysts expect Arista Networks Inc (NYSE:ANET) to announce earnings per share (EPS) of $1.92 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Arista Networks’ earnings. The highest EPS estimate is $2.05 and the lowest is $1.77. Arista Networks reported earnings per share of $2.31 during the same quarter last year, which indicates a negative year-over-year growth rate of 16.9%. The business is scheduled to issue its next quarterly earnings results on Thursday, May 7th.

On average, analysts expect that Arista Networks will report full-year earnings of $8.98 per share for the current fiscal year, with EPS estimates ranging from $7.84 to $9.90. For the next fiscal year, analysts anticipate that the company will post earnings of $10.35 per share, with EPS estimates ranging from $8.62 to $11.40. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Arista Networks.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, February 13th. The technology company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.46. The company had revenue of $552.55 million for the quarter, compared to analyst estimates of $550.63 million. Arista Networks had a return on equity of 27.99% and a net margin of 37.20%. During the same quarter in the previous year, the company earned $2.25 earnings per share.

A number of analysts have issued reports on the company. Barclays lowered Arista Networks from an “overweight” rating to an “equal weight” rating and set a $220.00 target price on the stock. in a research report on Thursday, January 30th. New Street Research assumed coverage on Arista Networks in a research report on Wednesday, November 27th. They issued a “buy” rating and a $250.00 target price on the stock. Bank of America lowered Arista Networks from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. Morgan Stanley boosted their target price on Arista Networks from $195.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Arista Networks in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $230.08.

Shares of NYSE ANET opened at $223.47 on Friday. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.00 and a beta of 1.52. The company has a quick ratio of 5.47, a current ratio of 5.91 and a debt-to-equity ratio of 0.03. Arista Networks has a 52-week low of $173.31 and a 52-week high of $331.27. The business’s 50 day moving average is $219.42 and its two-hundred day moving average is $221.05.

In related news, SVP Marc Taxay sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.51, for a total transaction of $962,550.00. Following the completion of the transaction, the senior vice president now owns 11,365 shares in the company, valued at $2,187,876.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 10,876 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $232.37, for a total transaction of $2,527,256.12. Following the transaction, the senior vice president now owns 3,987 shares of the company’s stock, valued at approximately $926,459.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,648 shares of company stock valued at $10,645,433. Insiders own 23.83% of the company’s stock.

Several hedge funds have recently modified their holdings of ANET. BlackRock Inc. boosted its position in shares of Arista Networks by 4.7% in the 2nd quarter. BlackRock Inc. now owns 3,904,300 shares of the technology company’s stock worth $1,013,633,000 after purchasing an additional 174,887 shares in the last quarter. Pacer Advisors Inc. boosted its position in Arista Networks by 10.2% during the third quarter. Pacer Advisors Inc. now owns 5,412 shares of the technology company’s stock worth $1,293,000 after purchasing an additional 503 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Arista Networks by 17.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,305 shares of the technology company’s stock worth $789,000 after purchasing an additional 493 shares during the period. Campbell & CO Investment Adviser LLC boosted its position in Arista Networks by 60.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 2,323 shares of the technology company’s stock worth $555,000 after purchasing an additional 878 shares during the period. Finally, Strategic Blueprint LLC bought a new position in Arista Networks during the third quarter worth $35,000. Hedge funds and other institutional investors own 59.60% of the company’s stock.

Arista Networks Company Profile

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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