02 Feb Dr. Jonathan Cartu Writes – Arista Networks (NYSE:ANET) Cut to “Equal Weight” at…
Barclays downgraded shares of Arista Networks (NYSE:ANET) from an overweight rating to an equal weight rating in a report released on Thursday morning, BenzingaRatingsTable reports. Barclays currently has $220.00 target price on the technology company’s stock.
Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Arista Networks from a buy rating to a hold rating in a report on Saturday, January 4th. Rosenblatt Securities reduced their price target on shares of Arista Networks from $260.00 to $145.00 and set a neutral rating on the stock in a report on Friday, November 1st. Bank of America downgraded shares of Arista Networks from a buy rating to a neutral rating in a report on Friday, November 1st. Piper Jaffray Companies reduced their price target on shares of Arista Networks from $272.00 to $213.00 and set an overweight rating on the stock in a report on Friday, November 1st. Finally, UBS Group reduced their price target on shares of Arista Networks from $285.00 to $200.00 and set a neutral rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $228.12.
Shares of ANET stock opened at $223.34 on Thursday. The company has a market capitalization of $17.06 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.98 and a beta of 1.49. Arista Networks has a one year low of $173.31 and a one year high of $331.27. The company’s fifty day moving average price is $211.77 and its 200-day moving average price is $224.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.91 and a quick ratio of 5.47.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.50. The firm had revenue of $654.40 million for the quarter, compared to the consensus estimate of $653.26 million. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. The company’s revenue was up 16.2% on a year-over-year basis. During the same period last year, the firm earned $2.11 EPS. Equities research analysts expect that Arista Networks will post 8.56 earnings per share for the current fiscal year.
In other Arista Networks news, Director Ann Mather sold 329 shares of Arista Networks stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $194.00, for a total value of $63,826.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Scheinman sold 9,333 shares of Arista Networks stock in a transaction on Friday, January 17th. The stock was sold at an average price of $220.06, for a total transaction of $2,053,819.98. Following the completion of the transaction, the director now directly owns 15,606 shares of the company’s stock, valued at $3,434,256.36. The disclosure for this sale can be found here. Insiders sold a total of 50,646 shares of company stock valued at $10,202,831 over the last three months. Corporate insiders own 23.83% of the company’s stock.
Large investors have recently modified their holdings of the business. Strategic Blueprint LLC purchased a new position in shares of Arista Networks in the 3rd quarter worth $35,000. Meeder Asset Management Inc. grew its stake in shares of Arista Networks by 1,281.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock worth $36,000 after buying an additional 141 shares in the last quarter. Laurel Wealth Advisors LLC grew its stake in shares of Arista Networks by 38.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 180 shares of the technology company’s stock worth $37,000 after buying an additional 50 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Arista Networks in the 3rd quarter worth $67,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Arista Networks in the 3rd quarter worth $72,000. 59.63% of the stock is owned by institutional investors and hedge funds.
About Arista Networks
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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