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

Shares of Arista Networks, Inc. (NYSE:ANET) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $102.42.

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Evercore ISI raised their price target on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Citigroup raised their price objective on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Barclays cut their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th.

Arista Networks Trading Down 0.9 %

NYSE:ANET opened at $114.46 on Monday. The stock has a market capitalization of $144.19 billion, a price-to-earnings ratio of 55.03, a PEG ratio of 3.21 and a beta of 1.08. The firm has a fifty day simple moving average of $106.48 and a two-hundred day simple moving average of $96.08. Arista Networks has a 12 month low of $60.08 and a 12 month high of $120.28.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities analysts predict that Arista Networks will post 1.96 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $98.30, for a total value of $786,360.00. Following the completion of the sale, the director now owns 179,784 shares of the company’s stock, valued at $17,671,868.28. The trade was a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 345,316 shares of company stock worth $37,761,976. 3.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after buying an additional 411,109 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Arista Networks by 4.2% in the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after buying an additional 236,151 shares during the last quarter. Wellington Management Group LLP raised its position in Arista Networks by 22.7% during the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after acquiring an additional 492,615 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Arista Networks by 4.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company’s stock valued at $876,481,000 after acquiring an additional 99,790 shares during the period. Finally, Legal & General Group Plc boosted its position in Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after purchasing an additional 20,278 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other 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.