$606.67 Million in Sales Expected for Arista Networks Inc (ANET) This Quarter

Analysts expect Arista Networks Inc (NYSE:ANET) to report $606.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Arista Networks’ earnings, with the lowest sales estimate coming in at $601.39 million and the highest estimate coming in at $615.00 million. Arista Networks reported sales of $519.85 million during the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The firm is scheduled to announce its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Arista Networks will report full-year sales of $2.56 billion for the current fiscal year, with estimates ranging from $2.49 billion to $2.65 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.05 billion, with estimates ranging from $2.81 billion to $3.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Arista Networks.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.24. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. The business had revenue of $595.42 million for the quarter, compared to analyst estimates of $595.21 million. During the same period in the prior year, the company posted $1.66 EPS. The company’s revenue for the quarter was up 26.0% on a year-over-year basis.

ANET has been the subject of several research analyst reports. ValuEngine downgraded shares of Arista Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Goldman Sachs Group increased their price target on shares of Arista Networks from $300.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Nomura increased their price target on shares of Arista Networks to $275.00 and gave the company a “buy” rating in a research note on Friday, February 15th. Gabelli raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $279.00 price target for the company in a research note on Tuesday, February 19th. Finally, Macquarie set a $325.00 price target on shares of Arista Networks and gave the company a “buy” rating in a research note on Friday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $314.13.

In related news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $285.81, for a total transaction of $571,620.00. Following the completion of the transaction, the senior vice president now owns 16,173 shares of the company’s stock, valued at approximately $4,622,405.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anshul Sadana sold 42,084 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.27, for a total transaction of $12,047,386.68. Following the transaction, the insider now directly owns 6,282 shares of the company’s stock, valued at approximately $1,798,348.14. The disclosure for this sale can be found here. Insiders have sold a total of 245,065 shares of company stock valued at $72,650,653 in the last ninety days. 23.83% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc boosted its position in Arista Networks by 21.1% in the 3rd quarter. Vanguard Group Inc now owns 5,432,205 shares of the technology company’s stock valued at $1,444,206,000 after buying an additional 946,977 shares during the period. Norges Bank acquired a new stake in shares of Arista Networks in the 4th quarter valued at $116,281,000. Swedbank acquired a new stake in Arista Networks during the 1st quarter worth $152,582,000. Artisan Partners Limited Partnership acquired a new stake in Arista Networks during the 1st quarter worth $132,213,000. Finally, FMR LLC raised its stake in Arista Networks by 25.1% during the 1st quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock worth $615,319,000 after acquiring an additional 392,021 shares in the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

ANET stock opened at $250.12 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34. Arista Networks has a 52-week low of $187.08 and a 52-week high of $331.27. The stock has a market cap of $19.16 billion, a PE ratio of 35.38, a PEG ratio of 1.58 and a beta of 1.47.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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