Arista Networks, Inc. (NYSE:ANET) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Arista Networks, Inc. (NYSE:ANET) have been assigned an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $164.4375.

A number of analysts have recently commented on ANET shares. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. UBS Group reissued a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a report on Wednesday, December 3rd. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $145.00 to $159.00 in a report on Monday, January 5th. Morgan Stanley lowered their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Finally, Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $138.41 on Friday. Arista Networks has a 1 year low of $59.43 and a 1 year high of $164.94. The firm has a market cap of $174.30 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 2.14 and a beta of 1.41. The company has a 50-day moving average of $128.52 and a 200 day moving average of $133.47.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $2.40 earnings per share. Arista Networks’s quarterly revenue was up 27.5% on a year-over-year basis. On average, equities analysts anticipate that Arista Networks will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the sale, the director owned 17,784 shares in the company, valued at $2,379,321.36. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,668,843.36. The trade was a 69.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 216,464 shares of company stock worth $27,687,068. Corporate insiders own 3.39% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently modified their holdings of ANET. Brighton Jones LLC boosted its holdings in shares of Arista Networks by 321.7% during the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after acquiring an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Arista Networks during the fourth quarter valued at approximately $202,000. Bison Wealth LLC purchased a new stake in Arista Networks in the fourth quarter worth approximately $251,000. Sivia Capital Partners LLC boosted its holdings in Arista Networks by 48.4% in the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after purchasing an additional 3,496 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in Arista Networks in the 2nd quarter worth approximately $321,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.