Arista Networks Inc. (NYSE:ANET) Given Consensus Rating of “Hold” by Brokerages
Shares of Arista Networks Inc. (NYSE:ANET) have been given an average rating of “Hold” by the twenty-eight research firms that are currently covering the stock. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $80.27.
Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Arista Networks from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. MKM Partners cut shares of Arista Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $81.00 to $79.00 in a report on Monday, September 19th. Wells Fargo & Co. restated a “positive” rating on shares of Arista Networks in a report on Thursday. Deutsche Bank AG raised their price target on shares of Arista Networks from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Finally, Royal Bank Of Canada raised their price target on shares of Arista Networks from $70.00 to $80.00 and gave the company a “sector perform” rating in a report on Wednesday, August 31st.
In related news, SVP Kenneth Duda sold 12,296 shares of Arista Networks stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $81.34, for a total value of $1,000,156.64. Following the sale, the senior vice president now owns 420 shares of the company’s stock, valued at approximately $34,162.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Stephen Smith sold 5,000 shares of Arista Networks stock in a transaction on Friday, July 15th. The shares were sold at an average price of $70.04, for a total transaction of $350,200.00. Following the completion of the sale, the vice president now directly owns 1,244 shares in the company, valued at approximately $87,129.76. The disclosure for this sale can be found here. 32.39% of the stock is currently owned by corporate insiders.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/arista-networks-inc-nyseanet-given-consensus-rating-of-hold-by-brokerages.html
A number of large investors have recently added to or reduced their stakes in ANET. Montag & Caldwell LLC boosted its stake in Arista Networks by 0.4% in the second quarter. Montag & Caldwell LLC now owns 10,713 shares of the company’s stock worth $690,000 after buying an additional 40 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Arista Networks by 3.5% in the second quarter. Legal & General Group Plc now owns 3,111 shares of the company’s stock valued at $200,000 after buying an additional 105 shares during the period. Creative Planning boosted its stake in shares of Arista Networks by 4.0% in the second quarter. Creative Planning now owns 4,658 shares of the company’s stock valued at $300,000 after buying an additional 177 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Arista Networks by 4.1% in the second quarter. Janney Montgomery Scott LLC now owns 8,630 shares of the company’s stock valued at $672,000 after buying an additional 340 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Arista Networks by 1.1% in the second quarter. Guggenheim Capital LLC now owns 31,276 shares of the company’s stock valued at $2,014,000 after buying an additional 343 shares during the period. 52.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Arista Networks (NYSE:ANET) traded up 1.47% during mid-day trading on Monday, reaching $86.39. 668,385 shares of the company traded hands. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 42.98 and a beta of 1.12. The firm has a 50-day moving average price of $82.27 and a 200 day moving average price of $72.00. Arista Networks has a 52 week low of $52.51 and a 52 week high of $87.62.
Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, August 4th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.06. Arista Networks had a net margin of 15.03% and a return on equity of 20.45%. The company had revenue of $268.70 million for the quarter, compared to analysts’ expectations of $262.98 million. During the same period in the prior year, the business earned $0.54 EPS. The firm’s quarterly revenue was up 37.4% on a year-over-year basis. On average, analysts anticipate that Arista Networks will post $2.93 earnings per share for the current year.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.
Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.