Arista Networks (NYSE:ANET) Announces Quarterly Earnings Results, Beats Estimates By $0.46 EPS

Arista Networks (NYSE:ANET) issued its quarterly earnings results on Thursday. The technology company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.46, RTT News reports. The firm had revenue of $552.55 million during the quarter, compared to the consensus estimate of $550.63 million. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. During the same period in the prior year, the firm earned $2.25 EPS. Arista Networks updated its Q1 2020
After-Hours guidance to EPS.

ANET stock traded down $14.15 during midday trading on Friday, reaching $223.47. 2,103,752 shares of the company were exchanged, compared to its average volume of 716,957. Arista Networks has a one year low of $173.31 and a one year high of $331.27. The firm has a market capitalization of $17.76 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52. The business has a 50-day moving average price of $219.42 and a two-hundred day moving average price of $221.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.91 and a quick ratio of 5.47.

ANET has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Arista Networks from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday. Cowen reduced their target price on shares of Arista Networks from $295.00 to $212.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. downgraded Arista Networks from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $290.00 to $180.00 in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Arista Networks in a research note on Tuesday. Finally, Deutsche Bank cut their price target on Arista Networks from $230.00 to $180.00 and set a “hold” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $230.08.

In other news, SVP Marc Taxay sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.51, for a total transaction of $962,550.00. Following the completion of the sale, the senior vice president now owns 11,365 shares in the company, valued at approximately $2,187,876.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 329 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $194.00, for a total transaction of $63,826.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,648 shares of company stock worth $10,645,433. Corporate insiders own 23.83% 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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Earnings History for Arista Networks (NYSE:ANET)

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