Arista Networks (NYSE:ANET) Price Target Raised to $121.00

Arista Networks (NYSE:ANET) had its price target hoisted by analysts at Citigroup from $115.00 to $121.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 16.94% from the company’s previous close.

ANET has been the subject of several other reports. Wells Fargo & Company lifted their target price on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Barclays dropped their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Down 0.4 %

ANET stock opened at $103.47 on Wednesday. The business has a 50 day moving average price of $114.01 and a two-hundred day moving average price of $101.55. The company has a market cap of $130.35 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 2.98 and a beta of 1.09. Arista Networks has a twelve month low of $60.08 and a twelve month high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 31.22% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, equities research analysts anticipate that Arista Networks will post 2.18 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 259,944 shares of company stock valued at $30,214,186. Corporate insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caitlin John LLC grew its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its position in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. 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.