Arista Networks, Inc. (NYSE:ANET) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Arista Networks, Inc. (NYSE:ANET) have been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $275.59.

A number of brokerages have recently issued reports on ANET. Wells Fargo & Company raised their price objective on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Piper Sandler raised their price objective on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Morgan Stanley raised their price objective on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. raised their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Barclays raised their price objective on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the sale, the director now owns 2,678 shares in the company, valued at $700,055.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the sale, the director now owns 2,678 shares in the company, valued at $700,055.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 342,415 shares of company stock worth $98,017,152. 18.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently modified their holdings of the company. Strata Wealth Advisors LLC grew its holdings in Arista Networks by 23.7% during the first quarter. Strata Wealth Advisors LLC now owns 9,712 shares of the technology company’s stock worth $2,816,000 after buying an additional 1,863 shares in the last quarter. Trilogy Capital Inc. bought a new stake in Arista Networks during the first quarter worth $444,000. Atticus Wealth Management LLC grew its holdings in Arista Networks by 87.9% during the first quarter. Atticus Wealth Management LLC now owns 280 shares of the technology company’s stock worth $81,000 after buying an additional 131 shares in the last quarter. Fox Hill Wealth Management grew its holdings in Arista Networks by 0.6% during the first quarter. Fox Hill Wealth Management now owns 8,591 shares of the technology company’s stock worth $2,491,000 after buying an additional 49 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new stake in Arista Networks during the first quarter worth $93,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 1.3 %

Arista Networks stock opened at $259.42 on Friday. The company has a market capitalization of $81.10 billion, a PE ratio of 39.49, a P/E/G ratio of 2.26 and a beta of 1.09. Arista Networks has a 12 month low of $131.68 and a 12 month high of $307.74. The stock has a 50-day moving average price of $281.39 and a two-hundred day moving average price of $244.06.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. As a group, analysts predict that Arista Networks will post 6.67 earnings per share for the current fiscal year.

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.