CTO Jon Cartu Writes - Arista Networks (NYSE:ANET) Rating Reiterated by Royal Bank... - Jonathan Cartu Computer Repair Consultant Services
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CTO Jon Cartu Writes – Arista Networks (NYSE:ANET) Rating Reiterated by Royal Bank…

Arista Networks Inc logo

CTO Jon Cartu Writes – Arista Networks (NYSE:ANET) Rating Reiterated by Royal Bank…


Royal Bank of Canada reiterated their sector perform rating on shares of Arista Networks (NYSE:ANET) in a research note issued to investors on Wednesday, Stock Target Advisor reports. They currently have a $210.00 price target on the technology company’s stock.

ANET has been the subject of a number of other reports. ValuEngine upgraded Arista Networks from a sell rating to a hold rating in a research note on Wednesday, November 6th. Rosenblatt Securities decreased their target price on Arista Networks from $260.00 to $145.00 and set a neutral rating for the company in a research note on Friday, November 1st. UBS Group decreased their target price on Arista Networks from $285.00 to $200.00 and set a neutral rating for the company in a research note on Monday, November 4th. Wolfe Research decreased their target price on Arista Networks from $270.00 to $200.00 and set a peer perform rating for the company in a research note on Friday, November 1st. Finally, Credit Suisse Group downgraded Arista Networks from an outperform rating to a neutral rating and set a $144.00 target price for the company. in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Arista Networks presently has an average rating of Hold and an average target price of $226.12.

ANET stock traded up $2.06 during midday trading on Wednesday, reaching $192.62. The company had a trading volume of 770,117 shares, compared to its average volume of 1,389,339. The company has a quick ratio of 5.47, a current ratio of 5.91 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $224.69 and a 200 day moving average price of $245.32. Arista Networks has a fifty-two week low of $173.31 and a fifty-two week high of $331.27. The firm has a market capitalization of $14.57 billion, a PE ratio of 27.24, a P/E/G ratio of 1.46 and a beta of 1.60.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, October 31st. The technology company reported $2.69 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.50. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The company had revenue of $654.40 million during the quarter, compared to the consensus estimate of $653.26 million. During the same period in the previous year, the firm posted $2.11 earnings per share. Arista Networks’s quarterly revenue was up 16.2% compared to the same quarter last year. Research analysts predict that Arista Networks will post 8.54 EPS for the current year.

In related news, Director Nikos Theodosopoulos sold 1,360 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $225.31, for a total transaction of $306,421.60. Following the sale, the director now owns 4,630 shares of the company’s stock, valued at $1,043,185.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 10,876 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $226.89, for a total value of $2,467,655.64. Following the sale, the senior vice president now directly owns 2,979 shares in the company, valued at approximately $675,905.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,984 shares of company stock worth $8,699,464. Corporate insiders own 23.83% of the company’s stock.

A number of large investors have recently made changes to their positions in ANET. Swedbank raised its holdings in Arista Networks by 56.2% during the second quarter. Swedbank now owns 757,942 shares of the technology company’s stock worth $196,777,000 after purchasing an additional 272,722 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Arista Networks by 1.3% during the second quarter. Retirement Systems of Alabama now owns 24,653 shares of the technology company’s stock worth $6,400,000 after purchasing an additional 320 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Arista Networks by 24.2% during the second quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. Argus Investors Counsel Inc. raised its holdings in Arista Networks by 97.0% during the second quarter. Argus Investors Counsel Inc. now owns 2,984 shares of the technology company’s stock worth $775,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in Arista Networks by 5.9% during the second quarter. Campbell & CO Investment Adviser LLC now owns 1,445 shares of the technology company’s stock worth $375,000 after purchasing an additional 80 shares in the last quarter. 59.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Convertible Shares

Analyst Recommendations for Arista Networks (NYSE:ANET)

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