Arista Networks (NYSE:ANET) Rating Reiterated by Piper Jaffray Companies

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.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.24. The company had revenue of $595.42 million during the quarter, compared to the consensus estimate of $595.21 million. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. Arista Networks’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the firm earned $1.66 EPS. Equities research analysts predict that Arista Networks will post 8.4 EPS for the current year.

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.

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Analyst Recommendations for Arista Networks (NYSE:ANET)

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