Arista Networks (NYSE:ANET)‘s stock had its “outperform” rating restated by stock analysts at William Blair in a research note issued to investors on Monday, September 17th.
ANET has been the subject of several other research reports. Credit Suisse Group set a $303.00 target price on Arista Networks and gave the stock a “buy” rating in a research note on Friday, June 29th. Loop Capital boosted their target price on Arista Networks to $260.00 and gave the stock a “hold” rating in a research note on Friday, August 3rd. They noted that the move was a valuation call. KeyCorp restated a “buy” rating and set a $310.00 target price on shares of Arista Networks in a research note on Friday, August 3rd. ValuEngine lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. Finally, JPMorgan Chase & Co. lifted their price target on Arista Networks from $282.00 to $287.00 and gave the stock a “hold” rating in a research report on Monday, July 23rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Arista Networks has an average rating of “Buy” and a consensus price target of $287.41.
Shares of ANET traded up $6.91 during midday trading on Monday, hitting $222.37. The company had a trading volume of 1,422,970 shares, compared to its average volume of 1,102,066. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.87 and a current ratio of 3.17. The stock has a market capitalization of $19.89 billion, a PE ratio of 47.82, a PEG ratio of 1.95 and a beta of 1.48. Arista Networks has a 1 year low of $177.92 and a 1 year high of $313.37.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.43. The business had revenue of $519.85 million during the quarter, compared to analysts’ expectations of $509.62 million. Arista Networks had a return on equity of 28.51% and a net margin of 28.07%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 EPS. Analysts predict that Arista Networks will post 6.43 EPS for the current year.
In other Arista Networks news, SVP Kenneth Duda sold 11,000 shares of the business’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $268.73, for a total transaction of $2,956,030.00. Following the sale, the senior vice president now directly owns 1,845 shares in the company, valued at $495,806.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 64,750 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $305.94, for a total value of $19,809,615.00. Following the sale, the chief executive officer now owns 14,704 shares in the company, valued at $4,498,541.76. The disclosure for this sale can be found here. Insiders have sold 216,820 shares of company stock worth $64,349,221 in the last ninety days. 24.95% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Three Peaks Capital Management LLC purchased a new stake in Arista Networks during the first quarter worth $101,000. Group One Trading L.P. purchased a new stake in shares of Arista Networks in the first quarter valued at $102,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Arista Networks in the second quarter valued at $129,000. Signet Financial Management LLC purchased a new stake in shares of Arista Networks in the second quarter valued at $142,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Arista Networks in the second quarter valued at $159,000. Institutional investors own 54.71% of the company’s stock.
About Arista Networks
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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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