Arista Networks, Inc. (NYSE:ANET) Receives $395.19 Consensus Price Target from Analysts

Arista Networks, Inc. (NYSE:ANETGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $395.19.

ANET has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. Rosenblatt Securities upped their price target on shares of Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Citigroup lifted their price objective on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group increased their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st.

View Our Latest Research Report on ANET

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 1,585 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $394.33, for a total transaction of $625,013.05. Following the transaction, the insider now directly owns 72 shares in the company, valued at approximately $28,391.76. This trade represents a 95.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Taxay sold 4,497 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $336.32, for a total value of $1,512,431.04. The disclosure for this sale can be found here. Insiders sold a total of 75,771 shares of company stock worth $29,995,584 in the last quarter. 3.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ANET. Beacon Capital Management LLC raised its stake in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the 2nd quarter valued at $27,000. Byrne Asset Management LLC acquired a new stake in shares of Arista Networks in the second quarter worth $33,000. Sugarloaf Wealth Management LLC purchased a new position in shares of Arista Networks during the second quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Arista Networks during the second quarter valued at $35,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $408.24 on Friday. The stock has a fifty day moving average price of $394.96 and a 200-day moving average price of $355.32. The firm has a market cap of $128.57 billion, a PE ratio of 49.07, a P/E/G ratio of 3.28 and a beta of 1.08. Arista Networks has a 1 year low of $210.69 and a 1 year high of $431.97.

Arista Networks’s stock is going to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANETGet Free Report) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company posted $1.63 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities analysts anticipate that Arista Networks will post 7.75 EPS for the current fiscal year.

Arista Networks Company Profile

(Get Free Report

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.

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Analyst Recommendations for Arista Networks (NYSE:ANET)

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