Arista Networks’ (ANET) Buy Rating Reiterated at Stifel Nicolaus

Arista Networks (NYSE:ANET)‘s stock had its “buy” rating reiterated by stock analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They currently have a $270.00 target price on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 16.87% from the company’s previous close.

ANET has been the subject of several other reports. JMP Securities raised their target price on Arista Networks from $185.00 to $230.00 and gave the stock a “market perform” rating in a research report on Thursday, October 26th. Deutsche Bank reaffirmed a “buy” rating and issued a $210.00 target price (up from $185.00) on shares of Arista Networks in a research report on Monday, October 9th. BMO Capital Markets increased their price objective on Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub upgraded Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. Finally, Royal Bank of Canada upgraded Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Fourteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $198.42.

Shares of Arista Networks (NYSE:ANET) traded up $4.31 during mid-day trading on Thursday, reaching $231.03. The company had a trading volume of 1,064,100 shares, compared to its average volume of 832,278. The company has a market capitalization of $16,888.52, a PE ratio of 55.54, a P/E/G ratio of 2.10 and a beta of 1.38. Arista Networks has a 52-week low of $87.33 and a 52-week high of $245.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.

In other news, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the transaction, the insider now owns 86,788 shares in the company, valued at approximately $16,485,380.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ita M. Brennan sold 3,500 shares of Arista Networks stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $229.97, for a total value of $804,895.00. Following the transaction, the insider now owns 17,677 shares in the company, valued at approximately $4,065,179.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 486,325 shares of company stock worth $110,320,931. Company insiders own 28.09% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its position in Arista Networks by 2.8% in the 2nd quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock valued at $1,135,380,000 after buying an additional 209,783 shares during the last quarter. Vanguard Group Inc. raised its position in Arista Networks by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock valued at $563,810,000 after buying an additional 249,753 shares during the last quarter. BlackRock Inc. raised its position in Arista Networks by 41.1% in the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock valued at $356,048,000 after buying an additional 692,651 shares during the last quarter. State Street Corp increased its position in shares of Arista Networks by 44.7% during the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 328,534 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Arista Networks by 2.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 649,475 shares of the technology company’s stock worth $123,136,000 after purchasing an additional 18,465 shares during the last quarter. 58.22% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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