27 Nov Pres. Jon Cartu Announced – Arista Networks (NYSE:ANET) Coverage Initiated at New…
New Street Research initiated coverage on shares of Arista Networks (NYSE:ANET) in a note issued to investors on Wednesday, Benzinga reports. The firm set a “buy” rating and a $250.00 price target on the technology company’s stock. New Street Research’s price target would indicate a potential upside of 28.09% from the stock’s current price.
Other analysts have also recently issued reports about the stock. ValuEngine raised shares of Arista Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. MKM Partners decreased their price target on shares of Arista Networks from $275.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. UBS Group decreased their price target on shares of Arista Networks from $285.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Oppenheimer cut shares of Arista Networks from an “outperform” rating to a “market perform” rating in a research report on Friday, November 1st. Finally, Goldman Sachs Group cut shares of Arista Networks from a “conviction-buy” rating to a “buy” rating and decreased their price target for the stock from $290.00 to $245.00 in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $230.50.
Shares of Arista Networks stock traded down $1.10 during trading on Wednesday, hitting $195.17. 16,873 shares of the company were exchanged, compared to its average volume of 1,510,174. 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 fifty-two week low of $173.31 and a fifty-two week high of $331.27. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.49 and a beta of 1.60. The firm has a 50 day moving average price of $215.92 and a 200 day moving average price of $239.76.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.50. The company had revenue of $654.40 million during the quarter, compared to the consensus estimate of $653.26 million. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. Arista Networks’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.11 EPS. Analysts predict that Arista Networks will post 8.55 earnings per share for the current year.
In other Arista Networks news, Director Ann Mather sold 329 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 12,312 shares in the company, valued at $2,917,082.16. The disclosure for this sale can be found here. Insiders sold a total of 38,953 shares of company stock worth $8,456,869 over the last quarter. 23.83% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. OLD National Bancorp IN bought a new stake in Arista Networks in the 2nd quarter valued at about $241,000. Oregon Public Employees Retirement Fund increased its position in shares of Arista Networks by 122.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 12,158 shares of the technology company’s stock valued at $3,156,000 after buying an additional 6,703 shares during the period. Legacy Capital Partners Inc. bought a new stake in shares of Arista Networks during the second quarter valued at about $813,000. NEXT Financial Group Inc increased its position in shares of Arista Networks by 155.9% during the second quarter. NEXT Financial Group Inc now owns 806 shares of the technology company’s stock valued at $209,000 after buying an additional 491 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Arista Networks by 40.0% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 700 shares of the technology company’s stock valued at $182,000 after buying an additional 200 shares during the period. Institutional investors own 59.68% of the company’s stock.
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.
Featured Story: How to Invest in Marijuana Stocks
Receive News & Ratings for Arista Networks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Arista Networks and related companies with MarketBeat.com’s FREE daily email newsletter.