Arista Networks, Inc. (NYSE:ANET) was upgraded by equities researchers at William Blair from a “market perform” rating to an “outperform” rating in a report issued on Friday, MarketBeat Ratings reports.

A number of other brokerages have also commented on ANET. MKM Partners restated a “neutral” rating and set a $125.00 price objective (up from $100.00) on shares of Arista Networks in a report on Tuesday, May 9th. Deutsche Bank AG restated a “buy” rating and set a $165.00 price objective (up from $156.00) on shares of Arista Networks in a report on Monday, July 17th. Barclays PLC raised their price objective on shares of Arista Networks from $161.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, June 15th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $160.00 price objective on shares of Arista Networks in a report on Monday, June 5th. Finally, Jefferies Group LLC restated a “hold” rating and set a $120.00 price objective on shares of Arista Networks in a report on Friday, July 14th. Sixteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Arista Networks currently has an average rating of “Buy” and an average price target of $148.30.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 23.86%. The business had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. During the same period last year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was up 50.8% on a year-over-year basis.

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In related news, insider Jayshree Ullal sold 140,696 shares of Arista Networks stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $145.17, for a total transaction of $20,424,838.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 10,507 shares of Arista Networks stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $144.23, for a total transaction of $1,515,424.61. Following the sale, the senior vice president now directly owns 811 shares of the company’s stock, valued at approximately $116,970.53. The disclosure for this sale can be found here. Insiders have sold a total of 648,962 shares of company stock valued at $98,403,258 in the last ninety days. 28.09% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. First Personal Financial Services increased its stake in shares of Arista Networks by 3.3% in the first quarter. First Personal Financial Services now owns 1,984 shares of the technology company’s stock valued at $262,000 after buying an additional 63 shares during the last quarter. First United Bank Trust increased its stake in shares of Arista Networks by 2.5% in the second quarter. First United Bank Trust now owns 6,510 shares of the technology company’s stock valued at $975,000 after buying an additional 160 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Arista Networks by 1.7% in the first quarter. Profund Advisors LLC now owns 12,569 shares of the technology company’s stock valued at $1,663,000 after buying an additional 209 shares during the last quarter. Financial Architects Inc increased its stake in shares of Arista Networks by 17.9% in the second quarter. Financial Architects Inc now owns 1,480 shares of the technology company’s stock valued at $222,000 after buying an additional 225 shares during the last quarter. Finally, IFP Advisors Inc increased its stake 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 valued at $224,000 after buying an additional 240 shares during the last quarter. 60.98% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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