Arista Networks, Inc. (NYSE:ANET)‘s stock had its “buy” rating restated by stock analysts at Argus in a research note issued on Monday, The Fly reports.

ANET has been the topic 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 company a “neutral” rating in a report on Wednesday, May 31st. Instinet raised their price target on shares of Arista Networks from $135.00 to $173.00 and gave the company a “neutral” rating in a report on Monday. William Blair upgraded shares of Arista Networks from a “market perform” rating to an “outperform” rating in a report on Friday. J P Morgan Chase & Co upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating in a report on Friday. Finally, Cowen and Company restated a “buy” rating and set a $168.00 price target on shares of Arista Networks in a report on Friday. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $149.71.

Shares of Arista Networks (ANET) traded up 1.62% during mid-day trading on Monday, reaching $174.83. 656,668 shares of the company were exchanged. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 56.47 and a beta of 1.33. The firm’s 50-day moving average is $153.36 and its 200-day moving average is $133.41. Arista Networks has a 12 month low of $68.75 and a 12 month high of $176.50.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (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 company had revenue of $405.21 million during the quarter, compared to the consensus estimate of $361.02 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was up 50.8% compared to the same quarter last year. On average, equities analysts forecast that Arista Networks will post $4.38 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/08/07/argus-reiterates-buy-rating-for-arista-networks-inc-nyseanet.html.

In other Arista Networks news, SVP Kenneth Duda sold 10,507 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $144.23, for a total value of $1,515,424.61. Following the completion of the transaction, the senior vice president now directly owns 811 shares of the company’s stock, valued at $116,970.53. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jayshree Ullal sold 140,696 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was 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 ninety days, insiders sold 648,962 shares of company stock valued at $98,403,258. Insiders own 28.09% of the company’s stock.

Large investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Arista Networks by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 62,494 shares of the technology company’s stock valued at $4,865,000 after buying an additional 1,022 shares in the last quarter. Marcus Capital acquired a new stake in shares of Arista Networks during the fourth quarter valued at approximately $3,024,000. Nationwide Fund Advisors acquired a new stake in shares of Arista Networks during the fourth quarter valued at approximately $1,011,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Arista Networks by 37.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 33,685 shares of the technology company’s stock valued at $2,622,000 after buying an additional 9,133 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its stake in shares of Arista Networks by 164.6% in the fourth quarter. Essex Investment Management Co. LLC now owns 86,480 shares of the technology company’s stock valued at $6,732,000 after buying an additional 53,802 shares in the last quarter. Institutional investors own 60.84% of the company’s stock.

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.

The Fly

Analyst Recommendations for Arista Networks (NYSE:ANET)

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.