Arista Networks, Inc. (NYSE:ANET)‘s stock had its “outperform” rating reissued by equities research analysts at JMP Securities in a report issued on Tuesday. They currently have a $185.00 price objective on the technology company’s stock, up from their prior price objective of $155.00. JMP Securities’ price objective suggests a potential upside of 8.95% from the company’s current price.

Several other research firms also recently weighed in on ANET. Cowen and Company reissued a “buy” rating and set a $168.00 price target (up previously from $145.00) on shares of Arista Networks in a research report on Friday, August 4th. Instinet raised their price target on Arista Networks from $135.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. Argus reissued a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th. Stifel Nicolaus reissued a “hold” rating and set a $165.00 price target (up previously from $145.00) on shares of Arista Networks in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $145.00 price target (up previously from $120.00) on shares of Arista Networks in a research report on Wednesday, August 9th. Sixteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $154.40.

Arista Networks (NYSE:ANET) opened at 170.42 on Tuesday. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 43.98 and a beta of 1.33. The firm’s 50-day moving average price is $155.50 and its 200-day moving average price is $137.85. Arista Networks has a 1-year low of $76.01 and a 1-year high of $176.50.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.15. The company had revenue of $405.21 million during the quarter, compared to the consensus estimate of $361.02 million. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. Arista Networks’s revenue was up 50.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. On average, equities research analysts anticipate that Arista Networks will post $4.68 earnings per share for the current year.

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In other Arista Networks news, Director Daniel Scheinman sold 833 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $151.68, for a total transaction of $126,349.44. Following the transaction, the director now owns 52,500 shares in the company, valued at $7,963,200. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 8,827 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $168.06, for a total value of $1,483,465.62. Following the transaction, the senior vice president now owns 1,202 shares in the company, valued at approximately $202,008.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 739,882 shares of company stock worth $121,473,046. 28.09% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janus Capital Management LLC boosted its position in shares of Arista Networks by 115.5% in the first quarter. Janus Capital Management LLC now owns 35,749 shares of the technology company’s stock worth $4,728,000 after buying an additional 19,160 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Arista Networks by 154.9% in the first quarter. California Public Employees Retirement System now owns 90,500 shares of the technology company’s stock worth $11,970,000 after buying an additional 55,000 shares in the last quarter. Swiss National Bank boosted its position in shares of Arista Networks by 0.9% in the first quarter. Swiss National Bank now owns 75,200 shares of the technology company’s stock worth $9,947,000 after buying an additional 700 shares in the last quarter. Credit Suisse AG boosted its position in shares of Arista Networks by 1.4% in the first quarter. Credit Suisse AG now owns 62,634 shares of the technology company’s stock worth $8,285,000 after buying an additional 859 shares in the last quarter. Finally, Columbus Circle Investors bought a new position in shares of Arista Networks during the first quarter worth approximately $42,580,000. Institutional investors own 60.83% 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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