Arista Networks’ (NYSE:ANET) Outperform Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reaffirmed their outperform rating on shares of Arista Networks, Inc. (NYSE:ANET) in a report published on Tuesday, StockTargetPrices.com reports.

A number of other analysts have also recently issued reports on the company. Needham & Company LLC reissued a buy rating and set a $150.00 price objective on shares of Arista Networks in a report on Tuesday, July 4th. Instinet cut Arista Networks from a buy rating to a neutral rating in a report on Tuesday, July 4th. BidaskClub cut Arista Networks from a strong-buy rating to a buy rating in a report on Tuesday, July 4th. Pacific Crest reissued an overweight rating and set a $168.00 price objective (up previously from $145.00) on shares of Arista Networks in a report on Sunday, June 25th. Finally, BMO Capital Markets increased their price objective on Arista Networks from $155.00 to $167.00 and gave the stock an outperform rating in a report on Monday, June 19th. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Arista Networks has an average rating of Buy and a consensus target price of $136.34.

Arista Networks (NYSE:ANET) opened at 148.77 on Tuesday. Arista Networks has a 12 month low of $66.06 and a 12 month high of $162.97. The company has a market cap of $10.71 billion, a PE ratio of 48.05 and a beta of 1.35. The company has a 50 day moving average price of $150.63 and a 200-day moving average price of $124.48.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Arista Networks had a return on equity of 20.94% and a net margin of 18.95%. The firm had revenue of $335.48 million for the quarter, compared to analysts’ expectations of $326.19 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 38.5% compared to the same quarter last year. Equities analysts predict that Arista Networks will post $3.96 earnings per share for the current fiscal year.

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In other news, SVP Kenneth Duda sold 10,507 shares of Arista Networks stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $144.23, for a total value of $1,515,424.61. Following the sale, the senior vice president now directly owns 811 shares in the company, valued at approximately $116,970.53. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $148.52, for a total value of $297,040.00. Following the completion of the sale, the senior vice president now owns 11,775 shares in the company, valued at $1,748,823. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 604,116 shares of company stock worth $91,431,795. 28.09% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of Arista Networks during the second quarter worth $1,624,000. Sowell Financial Services LLC acquired a new stake in shares of Arista Networks during the first quarter worth $1,091,000. Brighton Jones LLC acquired a new stake in shares of Arista Networks during the first quarter worth $635,000. FNY Partners Fund LP acquired a new stake in shares of Arista Networks during the first quarter worth $352,000. Finally, Janus Capital Management LLC raised its stake in shares of Arista Networks by 115.5% in the first quarter. Janus Capital Management LLC now owns 35,749 shares of the technology company’s stock worth $4,728,000 after buying an additional 19,160 shares in the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Stock Target Prices

Analyst Recommendations for Arista Networks (NYSE:ANET)

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