Piper Jaffray Companies reiterated their overweight rating on shares of Arista Networks (NYSE:ANET) in a research note issued to investors on Friday, June 7th, FirstToMarketsRatingsTable reports. The brokerage currently has a $330.00 target price on the technology company’s stock, down from their prior target price of $340.00. Piper Jaffray Companies also issued estimates for Arista Networks’ Q2 2020 earnings at $2.30 EPS.
Several other brokerages have also recently issued reports on ANET. Goldman Sachs Group lifted their target price on shares of 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 cut shares of Arista Networks from a strong-buy rating to a hold rating in a report on Tuesday, April 16th. Morgan Stanley cut shares of Arista Networks from an overweight rating to an equal weight rating and lifted their target price for the stock from $300.00 to $330.00 in a report on Tuesday, April 23rd. Credit Suisse Group boosted their price objective on shares of Arista Networks from $317.00 to $347.00 and gave the company an outperform rating in a report on Thursday, April 25th. Finally, Nomura upped their price target 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 issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $312.17.
Shares of Arista Networks stock traded up $3.22 on Friday, reaching $262.84. 659,045 shares of the company traded hands, compared to its average volume of 948,535. Arista Networks has a 52 week low of $187.08 and a 52 week high of $331.27. The business has a 50 day moving average of $249.86. The stock has a market cap of $19.89 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.64 and a beta of 1.56. The company has a quick ratio of 4.70, a current ratio of 5.34 and a debt-to-equity ratio of 0.04.
In other Arista Networks news, insider Jayshree Ullal sold 20,000 shares of Arista Networks stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $329.03, for a total transaction of $6,580,600.00. Following the sale, the insider now owns 10,425 shares of the company’s stock, valued at approximately $3,430,137.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Mccool sold 83 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $323.00, for a total transaction of $26,809.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,566 shares of company stock valued at $60,278,320. Insiders own 23.83% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Lenox Wealth Management Inc. bought a new stake in shares of Arista Networks in the 1st quarter valued at approximately $26,000. Larson Financial Group LLC bought a new stake in shares of Arista Networks during the fourth quarter worth approximately $25,000. FTB Advisors Inc. acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $26,000. Kaizen Advisory LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $27,000. Finally, Whittier Trust Co. acquired a new position in Arista Networks during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 57.94% of the company’s stock.
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.
Further Reading: What is a Candlestick Chart?
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.