Analysts expect Arista Networks, Inc. (NYSE:ANET) to announce $416.57 million in sales for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Arista Networks’ earnings, with the highest sales estimate coming in at $425.50 million and the lowest estimate coming in at $410.00 million. Arista Networks posted sales of $290.26 million during the same quarter last year, which suggests a positive year over year growth rate of 43.5%. The business is expected to issue its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Arista Networks will report full-year sales of $416.57 million for the current financial year, with estimates ranging from $1.46 billion to $1.62 billion. For the next year, analysts anticipate that the business will report sales of $1.89 billion per share, with estimates ranging from $1.69 billion to $2.15 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Arista Networks.
Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 50.8% compared to the same quarter last year.
Several brokerages recently weighed in on ANET. Credit Suisse Group lowered shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a research report on Thursday, April 27th. They noted that the move was a valuation call. JMP Securities raised their price objective on shares of Arista Networks from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $162.00 price objective (up previously from $150.00) on shares of Arista Networks in a research report on Friday, May 5th. Barclays PLC reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Saturday, April 22nd. Finally, Gabelli reaffirmed a “hold” rating on shares of Arista Networks in a research report on Friday, April 14th. Sixteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $153.32.
Shares of Arista Networks (NYSE:ANET) opened at 166.195 on Thursday. The stock has a market cap of $12.05 billion, a P/E ratio of 42.889 and a beta of 1.33. Arista Networks has a one year low of $73.83 and a one year high of $176.50. The firm has a 50 day moving average of $154.88 and a 200 day moving average of $135.91.
In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $147.51, for a total transaction of $295,020.00. Following the sale, the senior vice president now owns 11,775 shares in the company, valued at $1,736,930.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 9,539 shares of Arista Networks stock in a transaction on Friday, June 9th. The stock was sold at an average price of $156.19, for a total transaction of $1,489,896.41. Following the sale, the senior vice president now owns 1,202 shares in the company, valued at approximately $187,740.38. The disclosure for this sale can be found here. Insiders have sold 847,016 shares of company stock worth $137,068,807 in the last quarter. Corporate insiders own 28.09% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. LS Investment Advisors LLC acquired a new stake in Arista Networks during the second quarter worth $119,000. SG Americas Securities LLC acquired a new stake in Arista Networks during the first quarter worth $164,000. Financial Architects Inc increased its stake in Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock worth $166,000 after buying an additional 877 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Arista Networks during the second quarter worth $202,000. Finally, Clinton Group Inc. acquired a new stake in Arista Networks during the first quarter worth $205,000. Hedge funds and other institutional investors own 60.84% of the company’s stock.
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About Arista Networks
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.
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