15 Oct CTO Jon Cartu Publishes – Arista Networks (NYSE:ANET) Given a $272.00 Price Target at…
Piper Jaffray Companies set a $272.00 price target on Arista Networks (NYSE:ANET) in a research report report published on Friday, TipRanks reports. The firm currently has a buy rating on the technology company’s stock.
A number of other brokerages have also weighed in on ANET. Evercore ISI began coverage on shares of Arista Networks in a research report on Wednesday, September 11th. They set an inline rating and a $240.00 target price for the company. Nomura lowered shares of Arista Networks from a buy rating to a neutral rating and cut their target price for the stock from $290.00 to $230.00 in a research report on Thursday, October 3rd. Zacks Investment Research upgraded shares of Arista Networks from a sell rating to a hold rating and set a $284.00 target price for the company in a research report on Monday, July 8th. Royal Bank of Canada set a $300.00 target price on shares of Arista Networks and gave the stock a buy rating in a research report on Friday, July 19th. Finally, JMP Securities reiterated an outperform rating and set a $280.00 target price (down previously from $315.00) on shares of Arista Networks in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $292.23.
Shares of ANET stock traded down $1.67 on Friday, hitting $234.77. The stock had a trading volume of 317,600 shares, compared to its average volume of 865,558. The business has a 50 day moving average of $234.31 and a 200 day moving average of $260.91. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17. Arista Networks has a 12-month low of $187.08 and a 12-month high of $331.27.
Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.46. The company had revenue of $608.32 million during the quarter, compared to the consensus estimate of $606.78 million. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. As a group, research analysts expect that Arista Networks will post 8.7 earnings per share for the current fiscal year.
In other Arista Networks news, COO Anshul Sadana sold 1,350 shares of Arista Networks stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $280.07, for a total transaction of $378,094.50. Following the transaction, the chief operating officer now directly owns 1,783 shares of the company’s stock, valued at $499,364.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $236.93, for a total transaction of $473,860.00. Following the transaction, the senior vice president now directly owns 12,312 shares in the company, valued at $2,917,082.16. The disclosure for this sale can be found here. Insiders have sold 38,785 shares of company stock worth $9,494,568 over the last three months. Insiders own 23.83% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Gradient Investments LLC bought a new position in shares of Arista Networks in the second quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new stake in Arista Networks in the second quarter valued at $41,000. Financial Management Professionals Inc. boosted its holdings in Arista Networks by 548.0% in the second quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock valued at $42,000 after acquiring an additional 137 shares in the last quarter. Coastal Investment Advisors Inc. boosted its holdings in Arista Networks by 311.1% in the second quarter. Coastal Investment Advisors Inc. now owns 185 shares of the technology company’s stock valued at $48,000 after acquiring an additional 140 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Arista Networks by 24.2% in the second quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock valued at $49,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 58.74% of the company’s stock.
Arista Networks Company Profile
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, including universal leaf, spline, and universal spine products.
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