Arista Networks, Inc. (NYSE:ANET) to Release Earnings on Thursday
Arista Networks, Inc. (NYSE:ANET) will be releasing its earnings data after the market closes on Thursday, August 3rd. Analysts expect Arista Networks to post earnings of $0.95 per share for the quarter.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. The business had revenue of $335.48 million during the quarter, compared to analysts’ expectations of $326.19 million. Arista Networks had a return on equity of 20.94% and a net margin of 18.95%. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. On average, analysts expect Arista Networks to post $3.96 EPS for the current fiscal year and $4.73 EPS for the next fiscal year.
Shares of Arista Networks, Inc. (ANET) opened at 157.20 on Thursday. The company’s 50-day moving average price is $153.73 and its 200 day moving average price is $131.71. Arista Networks, Inc. has a 12-month low of $68.75 and a 12-month high of $162.97. The firm has a market capitalization of $11.32 billion, a PE ratio of 50.87 and a beta of 1.35.
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In related news, Director Daniel Scheinman sold 833 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $151.68, for a total value of $126,349.44. Following the transaction, the director now owns 52,500 shares of the company’s stock, valued at $7,963,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $139.51, for a total value of $279,020.00. Following the completion of the transaction, the senior vice president now directly owns 10,650 shares in the company, valued at approximately $1,485,781.50. The disclosure for this sale can be found here. Insiders sold 648,962 shares of company stock worth $98,381,418 in the last quarter. 28.09% of the stock is currently owned by company insiders.
Several research firms recently commented on ANET. Pacific Crest reiterated an “overweight” rating and issued a $168.00 price objective (up previously from $145.00) on shares of Arista Networks in a research note on Sunday, June 25th. Stifel Nicolaus reiterated a “hold” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Friday, July 21st. BidaskClub downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $120.00 price objective on shares of Arista Networks in a research note on Friday, July 14th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $165.00 price objective (up previously from $156.00) on shares of Arista Networks in a research note on Monday, July 17th. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Arista Networks currently has a consensus rating of “Buy” and an average target price of $140.00.
About Arista Networks
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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