Arista Networks, Inc. (NYSE:ANET) Receives Average Recommendation of “Moderate Buy” from Brokerages

Arista Networks, Inc. (NYSE:ANET) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $105.83.

Several equities analysts recently weighed in on ANET shares. UBS Group raised 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. Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group raised their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th.

Arista Networks Trading Down 0.3 %

NYSE:ANET opened at $115.11 on Friday. The stock has a 50-day moving average price of $112.58 and a 200 day moving average price of $99.48. Arista Networks has a 12-month low of $60.08 and a 12-month high of $133.57. The stock has a market capitalization of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.76 billion. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, research analysts predict that Arista Networks will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now owns 288 shares in the company, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock worth $28,538,497 over the last quarter. Insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently added to or reduced their stakes in ANET. Zions Bancorporation N.A. raised its holdings in shares of Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC increased its position in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the period. First Affirmative Financial Network raised its holdings in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after purchasing an additional 28 shares in the last quarter. Altman Advisors Inc. boosted its stake in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares in the last quarter. Finally, HM Payson & Co. boosted its stake in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.