Arista Networks (NYSE:ANET)‘s stock had its “hold” rating reiterated by stock analysts at Piper Jaffray Companies in a report issued on Friday, February 16th. They presently have a $268.00 target price on the technology company’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 9.89% from the company’s current price.
ANET has been the topic of a number of other research reports. UBS Group increased their target price on Arista Networks from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Morgan Stanley raised their price target on Arista Networks from $210.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, December 21st. Zacks Investment Research lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. BidaskClub upgraded Arista Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. Finally, Loop Capital began coverage on Arista Networks in a research note on Monday, January 29th. They set a “hold” rating and a $250.00 price target on the stock. Fourteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks has an average rating of “Buy” and an average price target of $249.42.
Arista Networks (NYSE:ANET) traded up $2.25 during mid-day trading on Friday, reaching $297.40. The company’s stock had a trading volume of 1,207,379 shares, compared to its average volume of 1,660,000. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.70 and a current ratio of 4.28. Arista Networks has a twelve month low of $123.36 and a twelve month high of $311.67. The stock has a market capitalization of $21,740.00, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 15th. The technology company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. Arista Networks had a return on equity of 25.86% and a net margin of 25.71%. The business had revenue of $467.90 million for the quarter, compared to analyst estimates of $463.82 million. During the same quarter last year, the firm posted $1.04 earnings per share. The business’s revenue was up 42.7% compared to the same quarter last year. equities research analysts forecast that Arista Networks will post 6.01 earnings per share for the current fiscal year.
In other Arista Networks news, Director Ann Mather sold 433 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $245.37, for a total value of $106,245.21. Following the completion of the sale, the director now owns 5,833 shares of the company’s stock, valued at $1,431,243.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 800 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $248.24, for a total value of $198,592.00. Following the completion of the sale, the chief executive officer now directly owns 6,613 shares of the company’s stock, valued at approximately $1,641,611.12. The disclosure for this sale can be found here. In the last three months, insiders sold 213,203 shares of company stock valued at $52,290,318. Corporate insiders own 28.09% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Compagnie Lombard Odier SCmA acquired a new stake in shares of Arista Networks during the fourth quarter worth about $100,000. PNC Financial Services Group Inc. lifted its holdings in shares of Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Arista Networks by 164.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 484 shares of the technology company’s stock worth $114,000 after purchasing an additional 301 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in shares of Arista Networks during the third quarter worth about $130,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Arista Networks during the third quarter worth about $151,000. 56.52% of the stock is 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.
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