Arista Networks, Inc. (NYSE:ANET)‘s stock had its “outperform” rating reiterated by equities research analysts at BMO Capital Markets in a research note issued on Friday, August 4th. They presently have a $190.00 price objective on the technology company’s stock, up from their prior price objective of $167.00. BMO Capital Markets’ price objective suggests a potential upside of 11.07% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Cowen and Company raised their target price on shares of Arista Networks from $123.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. UBS AG raised their target price on shares of Arista Networks from $120.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 31st. William Blair upgraded shares of Arista Networks from a “market perform” rating to an “outperform” rating in a research note on Friday, August 4th. Gabelli restated a “hold” rating on shares of Arista Networks in a research note on Friday, April 14th. Finally, DA Davidson cut shares of Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 target price on the stock. in a research note on Monday, May 22nd. Sixteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $154.40.
Arista Networks (ANET) opened at 171.06 on Friday. The company’s 50-day moving average is $156.91 and its 200 day moving average is $138.90. Arista Networks has a 52 week low of $76.01 and a 52 week high of $176.50. The stock has a market cap of $12.41 billion, a PE ratio of 44.14 and a beta of 1.33.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. During the same quarter last year, the business earned $0.74 EPS. The firm’s revenue was up 50.8% compared to the same quarter last year. On average, analysts expect that Arista Networks will post $4.69 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Arista Networks, Inc. (NYSE:ANET) Rating Reiterated by BMO Capital Markets” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://stocknewstimes.com/2017/08/18/bmo-capital-markets-reaffirms-outperform-rating-for-arista-networks-inc-nyseanet-updated.html.
In other news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $147.51, for a total transaction of $295,020.00. Following the completion of the sale, the senior vice president now directly owns 11,775 shares in the company, valued at $1,736,930.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jayshree Ullal sold 34,157 shares of Arista Networks stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $147.35, for a total value of $5,033,033.95. Following the sale, the insider now owns 2,576 shares of the company’s stock, valued at $379,573.60. The disclosure for this sale can be found here. Insiders have sold 739,882 shares of company stock valued at $121,473,046 over the last ninety days. 28.09% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in Arista Networks during the second quarter valued at $119,000. D.A. Davidson & CO. increased its stake in Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after buying an additional 30 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Arista Networks during the first quarter valued at $164,000. Finally, Financial Architects Inc increased 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. Institutional investors and hedge funds own 60.83% of the company’s stock.
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.
