Barclays Cuts Arista Networks (NYSE:ANET) Price Target to $125.00

Arista Networks (NYSE:ANET) had its price target reduced by Barclays from $495.00 to $125.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other analysts have also recently commented on ANET. Citigroup upped their target price on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday. Rosenblatt Securities raised their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. 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 note on Wednesday, October 30th. Finally, UBS Group lifted their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Arista Networks Stock Up 1.3 %

Shares of ANET opened at $108.24 on Wednesday. The stock’s fifty day simple moving average is $99.81 and its 200-day simple moving average is $89.84. The firm has a market capitalization of $34.09 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 3.12 and a beta of 1.10. Arista Networks has a 12-month low of $53.12 and a 12-month high of $110.74.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. Analysts anticipate that Arista Networks will post 7.79 EPS for the current year.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $95.63, for a total value of $765,040.00. Following the sale, the director now directly owns 187,784 shares in the company, valued at approximately $17,957,783.92. The trade was a 4.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 6,340 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the transaction, the insider now owns 288 shares of the company’s stock, valued at approximately $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,676 shares of company stock worth $28,280,199 over the last three months. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Beacon Capital Management LLC increased its holdings in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks during the 2nd quarter worth about $27,000. Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $33,000. Brown Lisle Cummings Inc. acquired a new stake in Arista Networks in the 2nd quarter valued at about $35,000. Finally, Anchor Investment Management LLC bought a new position in Arista Networks during the second quarter worth about $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Company Profile

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.