$0.84 EPS Expected for Arista Networks, Inc. (NYSE:ANET) This Quarter
Analysts expect that Arista Networks, Inc. (NYSE:ANET) will announce earnings per share of $0.84 for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Arista Networks’ earnings, with the highest EPS estimate coming in at $0.91 and the lowest estimate coming in at $0.77. Arista Networks posted earnings per share of $0.69 during the same quarter last year, which would suggest a positive year over year growth rate of 21.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Arista Networks will report full year earnings of $3.33 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.51. For the next fiscal 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’ earnings per share calculations are an average based on a survey of research firms that follow Arista Networks.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. The firm had revenue of $405.21 million during the quarter, compared to analyst estimates of $361.02 million. Arista Networks had a return on equity of 23.86% and a net margin of 21.74%. The business’s quarterly revenue was up 50.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share.
A number of equities analysts have recently commented on ANET shares. Gabelli reiterated a “hold” rating on shares of Arista Networks in a report on Friday, April 14th. Barclays PLC reiterated an “overweight” rating on shares of Arista Networks in a report on Saturday, April 22nd. Credit Suisse Group cut Arista Networks from an “outperform” rating to a “neutral” rating and set a $140.00 target price for the company. in a report on Thursday, April 27th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “hold” rating and issued a $115.00 target price on shares of Arista Networks in a report on Tuesday, May 2nd. Finally, Oppenheimer Holdings, Inc. set a $160.00 target price on Arista Networks and gave the stock a “buy” rating in a report on Thursday, May 4th. Sixteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Arista Networks has an average rating of “Buy” and a consensus price target of $149.71.
Shares of Arista Networks (NYSE:ANET) opened at 173.75 on Tuesday. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 56.12 and a beta of 1.33. Arista Networks has a 1-year low of $68.75 and a 1-year high of $176.50. The stock’s 50 day moving average price is $153.36 and its 200-day moving average price is $133.41.
In other news, insider Jayshree Ullal sold 140,696 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $145.17, for a total value of $20,424,838.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $150.43, for a total value of $300,860.00. Following the completion of the transaction, the senior vice president now directly owns 11,775 shares of the company’s stock, valued at $1,771,313.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 638,455 shares of company stock valued at $96,887,834. Corporate insiders own 28.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. First Personal Financial Services raised its position 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 in the last quarter. First United Bank Trust raised its position 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 in the last quarter. Profund Advisors LLC raised its position 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 in the last quarter. Financial Architects Inc raised its position 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 in the last quarter. Finally, IFP Advisors Inc raised 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 valued at $224,000 after buying an additional 240 shares in the last quarter. 60.84% of the stock is currently owned by institutional investors.
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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