Arista Networks (NYSE:ANET – Get Rating) had its target price lifted by Cowen from $203.00 to $212.00 in a research report sent to investors on Tuesday morning, Stock Target Advisor reports. Cowen currently has an outperform rating on the technology company's stock.
A number of other brokerages have also recently commented on ANET. KeyCorp lowered their target price on Arista Networks from $170.00 to $161.00 and set an overweight rating for the company in a report on Tuesday, November 1st. Bank of America raised Arista Networks from an underperform rating to a buy rating and lifted their price target for the stock from $105.00 to $150.00 in a research report on Tuesday, November 1st. StockNews.com began coverage on Arista Networks in a research report on Wednesday, October 12th. They set a buy rating on the stock. UBS Group boosted their target price on Arista Networks to $135.00 in a report on Friday, November 4th. Finally, Morgan Stanley boosted their target price on Arista Networks from $115.00 to $130.00 and gave the company an equal weight rating in a report on Monday, November 7th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of Moderate Buy and an average price target of $168.26.
Get Arista Networks alerts:Arista Networks Price Performance
Shares of NYSE:ANET opened at $133.02 on Tuesday. Arista Networks has a 1 year low of $89.11 and a 1 year high of $148.57. The firm has a market capitalization of $40.65 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. The business's 50 day moving average price is $123.75 and its 200-day moving average price is $115.17.
Arista Networks (NYSE:ANET – Get Rating) last posted its quarterly earnings data on Monday, October 31st. The technology company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.04 by $0.21. Arista Networks had a return on equity of 27.23% and a net margin of 29.63%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned $0.60 EPS. The firm's revenue was up 57.2% compared to the same quarter last year. On average, sell-side analysts expect that Arista Networks will post 3.8 earnings per share for the current year.Insider Buying and Selling at Arista Networks
In related news, insider John F. Mccool sold 1,332 shares of Arista Networks stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $140.05, for a total transaction of $186,546.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider John F. Mccool sold 1,332 shares of the company's stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $140.05, for a total value of $186,546.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ita M. Brennan sold 9,500 shares of the company's stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $139.65, for a total transaction of $1,326,675.00. Following the completion of the sale, the chief financial officer now directly owns 32,731 shares in the company, valued at $4,570,884.15. The disclosure for this sale can be found here. Insiders have sold a total of 71,171 shares of company stock worth $8,921,273 over the last three months. Corporate insiders own 19.59% of the company's stock.
Institutional Investors Weigh In On Arista Networks
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC grew its holdings in shares of Arista Networks by 3.3% during the second quarter. Kestra Private Wealth Services LLC now owns 2,735 shares of the technology company's stock valued at $256,000 after buying an additional 88 shares during the last quarter. Stratos Wealth Advisors LLC grew its holdings in shares of Arista Networks by 0.8% during the third quarter. Stratos Wealth Advisors LLC now owns 11,200 shares of the technology company's stock valued at $1,264,000 after buying an additional 91 shares during the last quarter. RMR Wealth Builders boosted its holdings in Arista Networks by 3.7% during the second quarter. RMR Wealth Builders now owns 2,589 shares of the technology company's stock worth $243,000 after purchasing an additional 93 shares during the last quarter. Avestar Capital LLC boosted its holdings in Arista Networks by 0.6% during the third quarter. Avestar Capital LLC now owns 16,095 shares of the technology company's stock worth $1,817,000 after purchasing an additional 94 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in Arista Networks by 3.8% in the third quarter. Avantax Advisory Services Inc. now owns 2,561 shares of the technology company's stock worth $289,000 after acquiring an additional 94 shares during the period. 63.82% of the stock is owned by institutional investors.
Arista Networks Company Profile
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Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.
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