Arista Networks, Inc. (NYSE:ANET) Given Average Rating of “Moderate Buy” by Analysts

Shares of Arista Networks, Inc. (NYSE:ANET) have received an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $100.70.

Several analysts recently commented on ANET shares. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. UBS Group lifted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Rosenblatt Securities upped their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Evercore ISI upped their price target on shares of Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Barclays lowered their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $95.63, for a total value of $765,040.00. Following the sale, the director now owns 187,784 shares in the company, valued at approximately $17,957,783.92. This trade represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $98.67, for a total value of $7,893,800.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,476 shares of company stock valued at $36,841,998 over the last three months. 3.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors have recently made changes to their positions in ANET. Retirement Systems of Alabama grew its position in Arista Networks by 0.6% during the third quarter. Retirement Systems of Alabama now owns 56,320 shares of the technology company’s stock valued at $21,617,000 after acquiring an additional 329 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Arista Networks in the 3rd quarter valued at about $13,283,000. American Trust boosted its holdings in Arista Networks by 71.7% during the 3rd quarter. American Trust now owns 4,382 shares of the technology company’s stock valued at $1,682,000 after acquiring an additional 1,830 shares during the period. Old North State Trust LLC boosted its stake in shares of Arista Networks by 6.9% during the third quarter. Old North State Trust LLC now owns 1,371 shares of the technology company’s stock valued at $526,000 after purchasing an additional 89 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Arista Networks by 16.3% in the third quarter. Franklin Resources Inc. now owns 979,592 shares of the technology company’s stock worth $405,032,000 after buying an additional 137,564 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 4.3 %

ANET opened at $108.07 on Thursday. The stock has a market cap of $136.14 billion, a price-to-earnings ratio of 51.96, a PEG ratio of 3.21 and a beta of 1.10. The stock has a fifty day moving average price of $101.87 and a 200 day moving average price of $91.96. Arista Networks has a 1 year low of $56.65 and a 1 year high of $116.94.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm 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 business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. As a group, sell-side analysts forecast that Arista Networks will post 1.96 earnings per share for the current fiscal year.

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.