Deutsche Bank AG restated their buy rating on shares of Arista Networks, Inc. (NYSE:ANET) in a research note published on Monday. Deutsche Bank AG currently has a $210.00 price objective on the technology company’s stock, up from their prior price objective of $185.00.
A number of other equities analysts also recently commented on the stock. Needham & Company LLC restated a buy rating and issued a $150.00 target price on shares of Arista Networks in a research note on Tuesday, July 4th. Zacks Investment Research downgraded shares of Arista Networks from a buy rating to a hold rating in a research note on Thursday, July 27th. Stifel Nicolaus restated a hold rating and issued a $145.00 target price on shares of Arista Networks in a research note on Friday, July 21st. BidaskClub downgraded shares of Arista Networks from a strong-buy rating to a buy rating in a research note on Tuesday, July 4th. Finally, Barclays PLC upped their target price on shares of Arista Networks from $161.00 to $185.00 and gave the stock an overweight rating in a research note on Thursday, June 15th. Fifteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $166.49.
Shares of Arista Networks (NYSE:ANET) opened at 192.95 on Monday. The stock has a market capitalization of $13.99 billion, a price-to-earnings ratio of 49.79 and a beta of 1.31. Arista Networks has a one year low of $78.82 and a one year high of $196.27. The firm has a 50-day moving average of $181.80 and a 200 day moving average of $157.31.
Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.15. The business had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. On average, equities research analysts predict that Arista Networks will post $4.70 EPS for the current year.
In related news, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $154.51, for a total transaction of $1,854,120.00. Following the sale, the insider now owns 99,841 shares in the company, valued at $15,426,432.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jayshree Ullal sold 200,268 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $173.37, for a total transaction of $34,720,463.16. The disclosure for this sale can be found here. Insiders sold 423,809 shares of company stock worth $73,090,013 in the last quarter. Company insiders own 28.09% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares during the period. LS Investment Advisors LLC acquired a new stake in Arista Networks during the second quarter valued at $119,000. D.A. Davidson & CO. grew its position in Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after buying an additional 30 shares during the period. SG Americas Securities LLC acquired a new stake in Arista Networks during the first quarter valued at $164,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Arista Networks during the second quarter valued at $202,000. Institutional investors own 59.34% of the company’s stock.
Arista Networks Company Profile
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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