Arista Networks, Inc. (NYSE:ANET)‘s stock had its “outperform” rating reiterated by stock analysts at BMO Capital Markets in a research note issued to investors on Friday. They presently have a $190.00 price target on the technology company’s stock, up from their previous price target of $167.00. BMO Capital Markets’ price objective would indicate a potential upside of 10.43% from the stock’s previous close.

ANET has been the subject of a number of other research reports. UBS AG raised their price target on shares of Arista Networks from $120.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 31st. William Blair raised shares of Arista Networks from a “market perform” rating to an “outperform” rating in a research report on Friday. J P Morgan Chase & Co raised shares of Arista Networks from a “neutral” rating to an “overweight” rating in a research report on Friday. Zacks Investment Research downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada raised their price target on shares of Arista Networks from $135.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Friday. Sixteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $148.30.

Shares of Arista Networks (NYSE ANET) traded up 19.44% during mid-day trading on Friday, hitting $172.05. 4,997,689 shares of the stock traded hands. Arista Networks has a one year low of $68.75 and a one year high of $175.40. The stock has a market cap of $12.39 billion, a PE ratio of 55.57 and a beta of 1.33. The stock has a 50-day moving average of $153.36 and a 200 day moving average of $133.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 23.86%. The company had revenue of $405.21 million during the quarter, compared to the consensus estimate of $361.02 million. During the same quarter last year, the company earned $0.74 earnings per share. Arista Networks’s revenue for the quarter was up 50.8% on a year-over-year basis. Equities analysts predict that Arista Networks will post $3.98 EPS for the current fiscal year.

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In related news, Director Daniel Scheinman sold 833 shares of Arista Networks stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $151.68, for a total transaction of $126,349.44. Following the sale, the director now directly owns 52,500 shares in the company, valued at $7,963,200. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 648,962 shares of company stock worth $98,403,258. Company insiders own 28.09% of the company’s stock.

Several large investors have recently modified their holdings of ANET. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 12.8% in the first quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock worth $464,830,000 after buying an additional 399,688 shares in the last quarter. FMR LLC boosted its stake in shares of Arista Networks by 32.2% in the first quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock worth $435,004,000 after buying an additional 800,465 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Arista Networks by 34,238.9% in the first quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock worth $222,784,000 after buying an additional 1,679,417 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Arista Networks by 13,502.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after buying an additional 1,219,248 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Arista Networks by 9.1% in the first quarter. William Blair Investment Management LLC now owns 1,136,817 shares of the technology company’s stock worth $150,367,000 after buying an additional 94,484 shares in the last quarter. Institutional investors and hedge funds own 60.98% of the company’s stock.

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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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