Zacks: Analysts Anticipate Arista Networks Inc (NYSE:ANET) to Announce $2.13 Earnings Per Share

Wall Street analysts forecast that Arista Networks Inc (NYSE:ANET) will announce earnings per share of $2.13 for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Arista Networks’ earnings, with the highest EPS estimate coming in at $2.69 and the lowest estimate coming in at $1.99. Arista Networks posted earnings per share of $2.25 during the same quarter last year, which indicates a negative year over year growth rate of 5.3%. The business is expected to announce its next quarterly earnings results on Thursday, February 13th.

On average, analysts expect that Arista Networks will report full year earnings of $9.54 per share for the current financial year, with EPS estimates ranging from $9.44 to $9.61. For the next fiscal year, analysts expect that the company will report earnings of $8.95 per share, with EPS estimates ranging from $7.84 to $9.80. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Arista Networks.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.50. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. The company had revenue of $654.40 million for the quarter, compared to the consensus estimate of $653.26 million. During the same period last year, the company earned $2.11 earnings per share. The firm’s revenue was up 16.2% compared to the same quarter last year.

A number of brokerages recently weighed in on ANET. Deutsche Bank lowered their target price on shares of Arista Networks from $230.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada restated a “sector perform” rating and set a $210.00 target price on shares of Arista Networks in a report on Wednesday. JPMorgan Chase & Co. downgraded shares of Arista Networks from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $290.00 to $180.00 in a report on Friday, November 1st. Rosenblatt Securities decreased their price objective on shares of Arista Networks from $260.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Morgan Stanley decreased their price objective on shares of Arista Networks from $275.00 to $195.00 and set a “weight” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. Arista Networks has a consensus rating of “Hold” and a consensus target price of $226.12.

In related news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $225.20, for a total transaction of $450,400.00. Following the completion of the sale, the senior vice president now owns 13,228 shares of the company’s stock, valued at $2,978,945.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nikos Theodosopoulos sold 1,360 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $225.31, for a total transaction of $306,421.60. Following the sale, the director now directly owns 4,630 shares of the company’s stock, valued at approximately $1,043,185.30. The disclosure for this sale can be found here. In the last three months, insiders sold 39,984 shares of company stock valued at $8,699,464. 23.83% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers bought a new stake in Arista Networks during the third quarter worth about $277,000. Northwestern Mutual Investment Management Company LLC lifted its position in Arista Networks by 3.3% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 2,072 shares of the technology company’s stock worth $495,000 after purchasing an additional 66 shares during the period. Focused Wealth Management Inc bought a new stake in Arista Networks during the third quarter worth about $72,000. D.A. Davidson & CO. lifted its position in Arista Networks by 14.3% during the third quarter. D.A. Davidson & CO. now owns 2,175 shares of the technology company’s stock worth $520,000 after purchasing an additional 272 shares during the period. Finally, BBVA USA Bancshares Inc. bought a new stake in Arista Networks during the third quarter worth about $331,000. 59.05% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ANET traded up $2.06 during midday trading on Friday, reaching $192.62. The company’s stock had a trading volume of 770,117 shares, compared to its average volume of 1,389,339. The company has a current ratio of 5.91, a quick ratio of 5.47 and a debt-to-equity ratio of 0.03. Arista Networks has a fifty-two week low of $173.31 and a fifty-two week high of $331.27. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.46 and a beta of 1.60. The stock has a 50 day simple moving average of $224.69 and a 200-day simple moving average of $245.32.

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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