Arista Networks, Inc. (NYSE:ANET) Receives $113.79 Consensus Price Target from Brokerages

Arista Networks, Inc. (NYSE:ANET) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $114.00.

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Institutional investors have recently modified their holdings of the company. Stock Yards Bank & Trust Co. bought a new stake in shares of Arista Networks in the 4th quarter valued at about $242,000. GHE LLC boosted its holdings in shares of Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after buying an additional 21,597 shares in the last quarter. Colonial River Investments LLC boosted its holdings in shares of Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after buying an additional 7,466 shares in the last quarter. Unified Investment Management bought a new stake in shares of Arista Networks in the 4th quarter valued at about $630,000. Finally, Silver Oak Securities Incorporated boosted its holdings in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after buying an additional 14,843 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 7.0 %

ANET stock opened at $77.53 on Tuesday. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.58. The company has a fifty day simple moving average of $108.24 and a two-hundred day simple moving average of $102.10. The firm has a market capitalization of $97.77 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, analysts anticipate that Arista Networks will post 2.2 EPS for the current year.

About Arista Networks

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.