Brokerages Set Arista Networks, Inc. (NYSE:ANET) Price Target at $100.70

Arista Networks, Inc. (NYSE:ANET) has been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $100.70.

ANET has been the subject of several recent research reports. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Barclays cut their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Evercore ISI lifted their price target on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. The Goldman Sachs Group increased their price objective on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, UBS Group lifted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th.

Arista Networks Trading Up 3.4 %

Shares of NYSE ANET opened at $112.81 on Thursday. The firm has a market capitalization of $142.11 billion, a PE ratio of 54.24, a PEG ratio of 3.21 and a beta of 1.10. Arista Networks has a one year low of $56.65 and a one year high of $116.94. The business has a 50-day moving average price of $102.17 and a two-hundred day moving average price of $92.48.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. Research analysts anticipate that Arista Networks will post 1.96 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, SVP Marc Taxay sold 2,496 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $97.09, for a total value of $242,342.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,476 shares of company stock valued at $36,841,998 in the last quarter. Insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several hedge funds have recently made changes to their positions in ANET. Beacon Capital Management LLC lifted its position in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC bought a new position in shares of Arista Networks during the 2nd quarter worth about $27,000. Anchor Investment Management LLC acquired a new stake in shares of Arista Networks during the 2nd quarter valued at about $35,000. MidAtlantic Capital Management Inc. bought a new stake in Arista Networks in the third quarter valued at about $44,000. Finally, HM Payson & Co. increased its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares during the period. Institutional investors own 82.47% of the company’s stock.

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.