Arista Networks (NYSE:ANET) Price Target Raised to $145.00

Arista Networks (NYSE:ANET) had its price target hoisted by The Goldman Sachs Group from $135.00 to $145.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other analysts also recently commented on the stock. Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Evercore ISI increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Rosenblatt Securities restated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday. UBS Group increased their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Stock Performance

Shares of ANET opened at $98.31 on Wednesday. The firm has a market capitalization of $123.84 billion, a P/E ratio of 44.28, a P/E/G ratio of 2.79 and a beta of 1.09. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57. The stock has a 50 day moving average price of $113.94 and a two-hundred day moving average price of $101.57.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts forecast that Arista Networks will post 2.18 earnings per share for the current year.

Insider Activity at Arista Networks

In related news, 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 transaction of $159,409.44. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 288 shares of the 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 disclosure for this sale can be found here. In the last three months, insiders have sold 260,056 shares of company stock worth $30,225,623. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

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

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.