Equities research analysts at Macquarie started coverage on shares of Arista Networks (NYSE:ANET) in a research report issued on Monday, April 30th, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $320.00 price target on the technology company’s stock. Macquarie’s price objective suggests a potential upside of 28.45% from the stock’s previous close.
Several other equities research analysts also recently commented on ANET. ValuEngine upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. MKM Partners upped their price target on shares of Arista Networks to $285.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Piper Jaffray restated a “hold” rating and issued a $268.00 price target on shares of Arista Networks in a research report on Friday, February 16th. Vetr downgraded shares of Arista Networks from a “strong-buy” rating to a “buy” rating and set a $321.08 price target for the company. in a research report on Tuesday, March 6th. Finally, Gabelli downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $262.01.
ANET stock traded down $0.42 on Monday, hitting $249.13. 628,935 shares of the company’s stock traded hands, compared to its average volume of 1,217,123. Arista Networks has a 1-year low of $246.76 and a 1-year high of $250.23. The firm has a market cap of $18.86 billion, a PE ratio of 53.58, a P/E/G ratio of 1.92 and a beta of 1.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.20 and a quick ratio of 4.61.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, May 3rd. The technology company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.20. The business had revenue of $472.49 million during the quarter, compared to the consensus estimate of $462.11 million. Arista Networks had a net margin of 27.19% and a return on equity of 27.23%. sell-side analysts expect that Arista Networks will post 6.25 earnings per share for the current year.
In other news, Director Ann Mather sold 433 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $245.37, for a total transaction of $106,245.21. Following the transaction, the director now owns 5,833 shares in the company, valued at approximately $1,431,243.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anshul Sadana sold 16,444 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $243.76, for a total transaction of $4,008,389.44. Following the transaction, the insider now owns 58,397 shares in the company, valued at approximately $14,234,852.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,666 shares of company stock worth $23,677,125. 24.95% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ANET. White Lighthouse Investment Management Inc. acquired a new position in Arista Networks in the 4th quarter valued at $1,955,000. Broadleaf Partners LLC acquired a new position in Arista Networks in the 4th quarter valued at $4,677,000. Nisa Investment Advisors LLC grew its stake in Arista Networks by 12,766.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,790 shares of the technology company’s stock valued at $1,362,000 after buying an additional 5,745 shares during the last quarter. Bank of Montreal Can grew its stake in Arista Networks by 30.4% in the 4th quarter. Bank of Montreal Can now owns 5,174 shares of the technology company’s stock valued at $1,219,000 after buying an additional 1,206 shares during the last quarter. Finally, CrestPoint Capital Management LLC acquired a new position in Arista Networks in the 4th quarter valued at $212,000. Institutional investors and hedge funds own 55.95% of the company’s stock.
Arista Networks Company Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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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