Barclays Boosts Arista Networks (NYSE:ANET) Price Target to $126.00

Arista Networks (NYSE:ANET) had its target price raised by research analysts at Barclays from $125.00 to $126.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 21.77% from the stock’s current price.

A number of other brokerages also recently issued reports on ANET. Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday. The Goldman Sachs Group upped their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company upped their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $103.47 on Wednesday. The company has a market capitalization of $130.35 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09. The business has a fifty day moving average price of $114.01 and a two-hundred day moving average price of $101.55. Arista Networks has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 31.22% and a net margin of 40.72%. Sell-side analysts anticipate that Arista Networks will post 2.18 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 259,944 shares of company stock valued at $30,214,186. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several institutional investors and hedge funds have recently modified their holdings of the business. OLD National Bancorp IN increased its position in shares of Arista Networks by 6.0% during the 3rd quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company’s stock valued at $417,000 after purchasing an additional 62 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Arista Networks by 2.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company’s stock worth $1,362,000 after buying an additional 68 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Arista Networks by 16.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company’s stock worth $207,000 after buying an additional 77 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in Arista Networks by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after buying an additional 31 shares during the last quarter. Finally, Vicus Capital bought a new stake in Arista Networks in the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.