Arista Networks, Inc. (NYSE:ANET) Receives $369.50 Consensus Target Price from Analysts

Arista Networks, Inc. (NYSE:ANET) has been assigned an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $373.88.

A number of equities research analysts have commented on ANET shares. Jefferies Financial Group increased their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley raised their price target on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Evercore ISI boosted their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st.

Arista Networks Price Performance

Shares of ANET opened at $394.23 on Wednesday. The company has a market capitalization of $123.85 billion, a P/E ratio of 51.13, a PEG ratio of 3.49 and a beta of 1.07. Arista Networks has a one year low of $203.19 and a one year high of $422.73. The business’s 50 day simple moving average is $376.13 and its 200-day simple moving average is $338.73.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that Arista Networks will post 7.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the transaction, the director now directly owns 2,192 shares in the company, valued at $869,084.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Kelly Bodnar Battles sold 373 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now owns 2,192 shares in the company, valued at $869,084.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 17,752 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,522 shares of company stock worth $20,099,338. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Institutional investors and hedge funds have recently modified their holdings of the company. UniSuper Management Pty Ltd increased its position in Arista Networks by 20.3% during the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after buying an additional 6,133 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Arista Networks in the 1st quarter valued at $1,405,000. M&G Plc acquired a new stake in Arista Networks during the 1st quarter valued at $3,238,000. Nordea Investment Management AB boosted its position in Arista Networks by 32.5% during the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock worth $7,810,000 after purchasing an additional 6,578 shares during the period. Finally, GW Henssler & Associates Ltd. increased its holdings in shares of Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 2,219 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

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.