Brokerages Set Arista Networks Inc (ANET) Price Target at $315.27

Arista Networks Inc (NYSE:ANET) has been given an average recommendation of “Buy” by the twenty-six research firms that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $315.27.

Several equities research analysts have weighed in on the company. Goldman Sachs Group upped their price target on Arista Networks from $300.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Zacks Investment Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 16th. Morgan Stanley cut Arista Networks from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $300.00 to $330.00 in a research report on Tuesday, April 23rd. Credit Suisse Group upped their price objective on Arista Networks from $317.00 to $347.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Nomura upped their price objective on Arista Networks from $275.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, April 26th.

In related news, Director Ann Mather sold 17,500 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $250.57, for a total value of $4,384,975.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $5,011,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 11,874 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $280.68, for a total value of $3,332,794.32. Following the completion of the sale, the senior vice president now directly owns 4,545 shares of the company’s stock, valued at $1,275,690.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,187 shares of company stock valued at $45,404,484. Insiders own 23.83% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ANET. Cigna Investments Inc. New lifted its position in Arista Networks by 2.4% during the 1st quarter. Cigna Investments Inc. New now owns 1,675 shares of the technology company’s stock worth $528,000 after acquiring an additional 40 shares during the period. IHT Wealth Management LLC lifted its position in Arista Networks by 4.2% during the 1st quarter. IHT Wealth Management LLC now owns 1,258 shares of the technology company’s stock worth $396,000 after acquiring an additional 51 shares during the period. CENTRAL TRUST Co lifted its position in Arista Networks by 42.6% during the 1st quarter. CENTRAL TRUST Co now owns 201 shares of the technology company’s stock worth $63,000 after acquiring an additional 60 shares during the period. Montag & Caldwell LLC lifted its position in Arista Networks by 4.5% during the 1st quarter. Montag & Caldwell LLC now owns 1,410 shares of the technology company’s stock worth $443,000 after acquiring an additional 61 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Arista Networks by 46.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock worth $61,000 after acquiring an additional 61 shares during the period. 58.00% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ANET opened at $257.18 on Tuesday. The company has a current ratio of 5.34, a quick ratio of 4.70 and a debt-to-equity ratio of 0.04. Arista Networks has a 1-year low of $187.08 and a 1-year high of $331.27. The stock has a market cap of $20.20 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 1.64 and a beta of 1.62.

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, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.24. Arista Networks had a return on equity of 29.36% and a net margin of 30.36%. The company had revenue of $595.42 million for the quarter, compared to the consensus estimate of $595.21 million. During the same quarter in the prior year, the business earned $1.66 EPS. Arista Networks’s revenue was up 26.0% on a year-over-year basis. On average, research analysts expect that Arista Networks will post 8.43 earnings per share for the current fiscal year.

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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Analyst Recommendations for Arista Networks (NYSE:ANET)

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