Arista Networks Inc (NYSE:ANET) Receives Average Rating of “Buy” from Analysts

Shares of Arista Networks Inc (NYSE:ANET) have earned an average recommendation of “Buy” from the twenty-six analysts that are currently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $313.23.

A number of analysts have recently weighed in on ANET shares. Goldman Sachs Group upped their price target on shares of Arista Networks from $300.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. ValuEngine raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. 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 note on Friday, April 26th. Deutsche Bank raised shares of Arista Networks from a “sell” rating to a “hold” rating and upped their price target for the stock from $190.00 to $225.00 in a research note on Tuesday, March 19th. Finally, Zacks Investment Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 16th.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $317.56, for a total value of $635,120.00. Following the transaction, the senior vice president now owns 15,257 shares in the company, valued at approximately $4,845,012.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Anshul Sadana sold 4,129 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $317.60, for a total transaction of $1,311,370.40. Following the completion of the transaction, the chief operating officer now owns 1,893 shares in the company, valued at approximately $601,216.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,695 shares of company stock worth $67,314,250. Company insiders own 23.83% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ANET. FTB Advisors Inc. acquired a new position in shares of Arista Networks during the 4th quarter worth $26,000. Lenox Wealth Management Inc. acquired a new position in shares of Arista Networks during the 1st quarter worth $26,000. Kaizen Advisory LLC acquired a new position in shares of Arista Networks during the 4th quarter worth $27,000. Whittier Trust Co. acquired a new position in shares of Arista Networks during the 1st quarter worth $44,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 purchasing an additional 61 shares during the last quarter. Institutional investors own 57.94% of the company’s stock.

Arista Networks stock traded up $1.63 during midday trading on Friday, reaching $259.62. 813,852 shares of the stock traded hands, compared to its average volume of 1,027,423. The company has a current ratio of 5.34, a quick ratio of 4.70 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $250.06. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.62. Arista Networks has a fifty-two week low of $187.08 and a fifty-two week high of $331.27.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.24. The firm had revenue of $595.42 million during the quarter, compared to analyst estimates 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 was up 26.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 EPS. On average, research analysts expect that Arista Networks will post 8.4 EPS for the current 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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