Arista Networks, Inc. (NYSE:ANET) had its target price hoisted by research analysts at Citigroup Inc. to $180.00 in a note issued to investors on Friday, The Fly reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 4.62% from the stock’s previous close.
A number of other analysts have also recently commented on the company. UBS AG lifted their target price on Arista Networks from $120.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 31st. William Blair upgraded Arista Networks from a “market perform” rating to an “outperform” rating in a research report on Friday. J P Morgan Chase & Co upgraded Arista Networks from a “neutral” rating to an “overweight” rating in a research report on Friday. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 target price (up previously from $167.00) on shares of Arista Networks in a research report on Friday. Finally, Zacks Investment Research cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $148.30.
Arista Networks (NYSE:ANET) opened at 172.05 on Friday. The stock has a 50 day moving average price of $153.36 and a 200 day moving average price of $133.41. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 55.57 and a beta of 1.33. Arista Networks has a 52-week low of $68.75 and a 52-week high of $175.40.
Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.15. The company had revenue of $405.21 million during 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%. Arista Networks’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. On average, equities analysts expect that Arista Networks will post $3.98 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This article was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://stocknewstimes.com/2017/08/06/arista-networks-inc-nyseanet-price-target-raised-to-180-00.html.
In other news, insider Anshul Sadana sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $154.51, for a total transaction of $1,854,120.00. Following the sale, the insider now owns 99,841 shares of the company’s stock, valued at approximately $15,426,432.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 10,507 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $144.23, for a total value of $1,515,424.61. Following the sale, the senior vice president now directly owns 811 shares in the company, valued at approximately $116,970.53. The disclosure for this sale can be found here. Insiders have sold a total of 648,962 shares of company stock worth $98,403,258 in the last three months. Corporate insiders own 28.09% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Comerica Bank purchased a new stake in shares of Arista Networks during the fourth quarter valued at approximately $205,000. Janus Capital Management LLC raised its stake in shares of Arista Networks by 115.5% in the first quarter. Janus Capital Management LLC now owns 35,749 shares of the technology company’s stock valued at $4,728,000 after buying an additional 19,160 shares during the period. California Public Employees Retirement System raised its stake in shares of Arista Networks by 154.9% in the first quarter. California Public Employees Retirement System now owns 90,500 shares of the technology company’s stock valued at $11,970,000 after buying an additional 55,000 shares during the period. Swiss National Bank raised its stake in shares of Arista Networks by 0.9% in the first quarter. Swiss National Bank now owns 75,200 shares of the technology company’s stock valued at $9,947,000 after buying an additional 700 shares during the period. Finally, Columbus Circle Investors purchased a new stake in shares of Arista Networks during the first quarter valued at approximately $42,580,000. 60.98% of the stock is currently owned by institutional investors and hedge funds.
About Arista Networks
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.
Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
