Arista Networks Inc (NYSE:ANET) Expected to Post Earnings of $2.21 Per Share

Analysts predict that Arista Networks Inc (NYSE:ANET) will post $2.21 earnings per share (EPS) for the current quarter, Zacks reports. Eleven analysts have made estimates for Arista Networks’ earnings, with the lowest EPS estimate coming in at $2.11 and the highest estimate coming in at $2.32. Arista Networks posted earnings per share of $1.93 in the same quarter last year, which would indicate a positive year over year growth rate of 14.5%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Arista Networks will report full-year earnings of $9.35 per share for the current financial year, with EPS estimates ranging from $8.89 to $9.83. For the next fiscal year, analysts forecast that the business will report earnings of $10.60 per share, with EPS estimates ranging from $9.93 to $11.20. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Arista Networks.

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

A number of research firms have recently commented on ANET. Zacks Investment Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 16th. KeyCorp increased their target price on shares of Arista Networks from $320.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. They noted that the move was a valuation call. Morgan Stanley cut shares of Arista Networks from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $300.00 to $330.00 in a research report on Tuesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and set a $385.00 target price (up previously from $315.00) on shares of Arista Networks in a research report on Monday, April 29th. Finally, Nomura increased their target price on shares of Arista Networks from $275.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $312.17.

Arista Networks stock traded down $6.71 during mid-day trading on Friday, reaching $235.30. The company had a trading volume of 482,393 shares, compared to its average volume of 921,745. The company has a market cap of $18.32 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.62. Arista Networks has a 52 week low of $187.08 and a 52 week high of $331.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.34 and a quick ratio of 4.70.

In other Arista Networks news, CEO Jayshree Ullal sold 12,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $313.44, for a total value of $3,761,280.00. Following the completion of the sale, the chief executive officer now owns 10,425 shares in the company, valued at approximately $3,267,612. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andreas Bechtolsheim sold 140,241 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $252.84, for a total transaction of $35,458,534.44. Following the completion of the transaction, the insider now directly owns 16,113 shares in the company, valued at approximately $4,074,010.92. The disclosure for this sale can be found here. Insiders sold a total of 289,730 shares of company stock valued at $79,473,564 in the last 90 days. Corporate insiders own 23.83% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cigna Investments Inc. New boosted its stake in shares of Arista Networks by 2.4% in the 1st quarter. Cigna Investments Inc. New now owns 1,675 shares of the technology company’s stock valued at $528,000 after purchasing an additional 40 shares during the last quarter. IHT Wealth Management LLC boosted its stake in shares of Arista Networks by 4.2% in the 1st quarter. IHT Wealth Management LLC now owns 1,258 shares of the technology company’s stock valued at $396,000 after purchasing an additional 51 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Arista Networks by 42.6% in the 1st quarter. CENTRAL TRUST Co now owns 201 shares of the technology company’s stock valued at $63,000 after purchasing an additional 60 shares during the last quarter. Montag & Caldwell LLC boosted its stake in shares of Arista Networks by 4.5% in the 1st quarter. Montag & Caldwell LLC now owns 1,410 shares of the technology company’s stock valued at $443,000 after purchasing an additional 61 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Arista Networks by 46.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock valued at $61,000 after purchasing an additional 61 shares during the last quarter. 58.01% of the stock is currently owned by institutional investors.

Arista Networks Company Profile

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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