Analysts Expect Arista Networks, Inc. (ANET) Will Post Earnings of $0.79 Per Share
Wall Street brokerages predict that Arista Networks, Inc. (NYSE:ANET) will announce $0.79 earnings per share for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Arista Networks’ earnings, with estimates ranging from $0.74 to $0.86. Arista Networks reported earnings of $0.60 per share in the same quarter last year, which indicates a positive year over year growth rate of 31.7%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that Arista Networks will report full year earnings of $3.33 per share for the current year, with EPS estimates ranging from $3.10 to $3.51. For the next year, analysts expect that the company will report earnings of $4.00 per share, with EPS estimates ranging from $3.50 to $4.20. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Arista Networks.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 4th. The technology company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.70 by $0.09. Arista Networks had a net margin of 18.95% and a return on equity of 20.94%. The firm had revenue of $335.48 million during the quarter, compared to analysts’ expectations of $326.19 million. During the same quarter in the prior year, the firm earned $0.68 EPS. Arista Networks’s quarterly revenue was up 38.5% on a year-over-year basis.
A number of research analysts have weighed in on the stock. Pacific Crest reaffirmed an “overweight” rating and issued a $168.00 price target (up previously from $145.00) on shares of Arista Networks in a research note on Sunday, June 25th. Jefferies Group LLC restated a “hold” rating and set a $120.00 target price on shares of Arista Networks in a report on Friday, July 14th. Deutsche Bank AG restated a “buy” rating and set a $165.00 target price (up from $156.00) on shares of Arista Networks in a report on Monday. CIBC initiated coverage on shares of Arista Networks in a report on Monday, June 5th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Wells Fargo & Company restated an “outperform” rating and set a $175.00 target price (up from $150.00) on shares of Arista Networks in a report on Wednesday, July 12th. Sixteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $139.65.
In related news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $139.51, for a total value of $279,020.00. Following the completion of the sale, the senior vice president now owns 10,650 shares in the company, valued at approximately $1,485,781.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anshul Sadana sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $154.51, for a total value of $1,854,120.00. Following the completion of the sale, the insider now owns 99,841 shares of the company’s stock, valued at approximately $15,426,432.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 626,199 shares of company stock valued at $94,789,189. Corporate insiders own 28.09% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ANET. LS Investment Advisors LLC bought a new position in shares of Arista Networks during the second quarter worth approximately $119,000. SG Americas Securities LLC bought a new position in shares of Arista Networks during the first quarter worth approximately $164,000. Financial Architects Inc boosted its position in shares of Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock worth $166,000 after buying an additional 877 shares during the period. Clinton Group Inc. bought a new position in shares of Arista Networks during the first quarter worth approximately $205,000. Finally, IFP Advisors Inc boosted its position in shares of Arista Networks by 16.5% in the first quarter. IFP Advisors Inc now owns 1,697 shares of the technology company’s stock worth $224,000 after buying an additional 240 shares during the period. 60.61% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Arista Networks (ANET) opened at 155.99 on Wednesday. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 50.38 and a beta of 1.35. The company’s 50-day moving average is $152.79 and its 200 day moving average is $129.71. Arista Networks has a 1-year low of $68.75 and a 1-year high of $162.97.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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