Arista Networks (NYSE:ANET) PT Raised to $425.00 at Evercore ISI

by · The Markets Daily

Arista Networks (NYSE:ANET – Free Report) had its price target upped by Evercore ISI from $400.00 to $425.00 in a report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also recently commented on ANET. The Goldman Sachs Group upped their price target on Arista Networks from $390.00 to $430.00 and gave the stock a buy rating in a research note on Tuesday, September 24th. Citigroup upped their price objective on Arista Networks from $330.00 to $385.00 and gave the stock a buy rating in a research report on Thursday, June 27th. KeyCorp upped their price objective on Arista Networks from $349.00 to $432.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. UBS Group upped their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a neutral rating in a research report on Wednesday, September 4th. Finally, Bank of America upped their price objective on Arista Networks from $320.00 to $380.00 and gave the stock a buy rating in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $364.81.

Check Out Our Latest Analysis on Arista Networks

Arista Networks Stock Up 1.5 %

NYSE:ANET opened at $395.99 on Tuesday. The stock’s fifty day moving average is $351.55 and its two-hundred day moving average is $323.80. Arista Networks has a 52 week low of $168.25 and a 52 week high of $396.80. The stock has a market capitalization of $124.09 billion, a price-to-earnings ratio of 55.15, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that Arista Networks will post 7.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the transaction, the director now directly owns 50,946 shares in the company, valued at approximately $17,437,796.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,361 shares of company stock valued at $20,523,830. 3.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arista Networks

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after buying an additional 1,596,040 shares during the period. Capital World Investors boosted its stake in shares of Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after buying an additional 55,312 shares during the period. GQG Partners LLC acquired a new stake in shares of Arista Networks during the first quarter worth about $881,848,000. Legal & General Group Plc boosted its stake in shares of Arista Networks by 0.9% during the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after buying an additional 20,278 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Arista Networks during the first quarter worth about $521,767,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

About Arista Networks

(Get Free Report)

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.

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