Arista Networks, Inc. (NYSE:ANET) had its target price raised by UBS AG from $150.00 to $165.00 in a report released on Friday morning, 99wallstreet.com reports. They currently have a neutral rating on the technology company’s stock.
Several other research firms also recently issued reports on ANET. MKM Partners restated a neutral rating and set a $125.00 target price (up previously from $100.00) on shares of Arista Networks in a research report on Tuesday, May 9th. Deutsche Bank AG restated a buy rating and set a $165.00 target price (up previously from $156.00) on shares of Arista Networks in a research report on Monday, July 17th. William Blair upgraded Arista Networks from a market perform rating to an outperform rating in a research report on Friday. Barclays PLC increased their target price on Arista Networks from $161.00 to $185.00 and gave the stock an overweight rating in a research report on Thursday, June 15th. Finally, Oppenheimer Holdings, Inc. restated an outperform rating and set a $160.00 target price on shares of Arista Networks in a research report on Monday, June 5th. Sixteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Arista Networks presently has an average rating of Buy and an average target price of $145.40.
Shares of Arista Networks (NYSE:ANET) traded up 19.44% during trading on Friday, reaching $172.05. The company’s stock had a trading volume of 4,997,689 shares. The stock has a 50-day moving average of $153.36 and a 200-day moving average of $133.41. Arista Networks has a 52-week low of $68.75 and a 52-week high of $175.40. The stock has a market cap of $12.39 billion, a P/E ratio of 55.57 and a beta of 1.33.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.15. The firm had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. Arista Networks had a return on equity of 23.86% and a net margin of 21.74%. The business’s quarterly revenue was up 50.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. Analysts predict that Arista Networks will post $3.98 earnings per share for the current fiscal year.
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In other news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $147.51, for a total transaction of $295,020.00. Following the transaction, the senior vice president now directly owns 11,775 shares of the company’s stock, valued at $1,736,930.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Scheinman sold 833 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $151.68, for a total value of $126,349.44. Following the transaction, the director now directly owns 52,500 shares in the company, valued at $7,963,200. The disclosure for this sale can be found here. Insiders have sold 648,962 shares of company stock worth $98,403,258 over the last ninety days. Insiders own 28.09% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC bought a new position in shares of Arista Networks during the second quarter worth about $119,000. SG Americas Securities LLC acquired a new stake in Arista Networks during the first quarter valued at about $164,000. Financial Architects Inc boosted its stake in Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock valued at $166,000 after buying an additional 877 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Arista Networks during the second quarter valued at about $202,000. Finally, Parametrica Management Ltd acquired a new stake in Arista Networks during the second quarter valued at about $229,000. 60.98% of the stock is currently owned by hedge funds and other institutional investors.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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