15 Feb Esq. Jon Cartu Publishes – Arista Networks (NYSE:ANET) Lowered to “Outperform” at JMP…
JMP Securities cut shares of Arista Networks (NYSE:ANET) to an outperform rating in a research report released on Friday morning, The Fly reports. JMP Securities currently has $240.00 price target on the technology company’s stock.
Several other research firms also recently commented on ANET. Bank of America downgraded Arista Networks from a buy rating to a neutral rating in a research report on Friday, November 1st. Barclays downgraded Arista Networks from an overweight rating to an equal weight rating and set a $220.00 target price for the company. in a research report on Thursday, January 30th. Cowen cut their target price on Arista Networks from $295.00 to $212.00 and set an outperform rating for the company in a research report on Friday, November 1st. Citigroup upgraded Arista Networks to a buy rating and cut their target price for the stock from $315.00 to $225.00 in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. downgraded Arista Networks from a neutral rating to an underweight rating and cut their target price for the stock from $290.00 to $180.00 in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company. Arista Networks presently has an average rating of Hold and an average target price of $230.08.
Shares of ANET stock traded down $14.15 during mid-day trading on Friday, reaching $223.47. The stock had a trading volume of 2,113,794 shares, compared to its average volume of 751,267. The firm’s 50 day simple moving average is $219.42 and its 200 day simple moving average is $221.05. The company has a quick ratio of 5.47, a current ratio of 5.91 and a debt-to-equity ratio of 0.03. Arista Networks has a one year low of $173.31 and a one year high of $331.27. The firm has a market cap of $18.15 billion, a PE ratio of 21.00, a P/E/G ratio of 2.00 and a beta of 1.52.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 13th. The technology company reported $2.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.46. The business had revenue of $552.55 million during the quarter, compared to the consensus estimate of $550.63 million. Arista Networks had a return on equity of 27.99% and a net margin of 37.20%. During the same quarter last year, the company earned $2.25 EPS. Sell-side analysts forecast that Arista Networks will post 7.79 earnings per share for the current fiscal year.
In other news, Director Nikos Theodosopoulos sold 1,360 shares of Arista Networks stock in a transaction on Monday, December 16th. The stock was sold at an average price of $200.09, for a total value of $272,122.40. Following the completion of the sale, the director now directly owns 4,957 shares of the company’s stock, valued at approximately $991,846.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marc Taxay sold 5,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.51, for a total value of $962,550.00. Following the completion of the sale, the senior vice president now directly owns 11,365 shares of the company’s stock, valued at $2,187,876.15. The disclosure for this sale can be found here. Insiders have sold a total of 50,648 shares of company stock valued at $10,645,433 over the last ninety days. Insiders own 23.83% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANET. Strategic Blueprint LLC acquired a new stake in shares of Arista Networks during the third quarter worth $35,000. Meeder Asset Management Inc. increased its position in Arista Networks by 1,281.8% during the third quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock worth $36,000 after buying an additional 141 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in Arista Networks by 38.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 180 shares of the technology company’s stock worth $37,000 after buying an additional 50 shares during the last quarter. Quadrant Capital Group LLC increased its position in Arista Networks by 1,615.4% during the fourth quarter. Quadrant Capital Group LLC now owns 223 shares of the technology company’s stock worth $44,000 after buying an additional 210 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Arista Networks during the third quarter worth approximately $67,000. 59.60% of the stock is owned by 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.
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