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

Arista Networks, Inc. (NYSE:ANET) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. One research 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 analysts that have covered the stock in the last year is $105.83.

A number of equities research analysts have issued reports on ANET shares. UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI boosted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,832 shares of company stock valued at $28,538,497 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently bought and sold shares of the business. Silver Oak Securities Incorporated increased its stake in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after purchasing an additional 14,843 shares in the last quarter. GW Henssler & Associates Ltd. increased its position in Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after buying an additional 2,219 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Arista Networks by 69.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after buying an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC bought a new position in shares of Arista Networks during the 3rd quarter valued at approximately $2,318,000. Finally, Greenleaf Trust increased its holdings in Arista Networks by 20.1% in the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock worth $5,076,000 after acquiring an additional 2,216 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

NYSE ANET opened at $115.11 on Friday. The company has a market capitalization of $145.01 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 3.10 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 company has a 50-day simple moving average of $112.58 and a 200 day simple moving average of $99.48.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $0.41 earnings per share. Arista Networks’s revenue was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Arista Networks will post 1.97 EPS 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.