Analysts Anticipate Arista Networks, Inc. (ANET) Will Announce Quarterly Sales of $416.52 Million
Equities analysts predict that Arista Networks, Inc. (NYSE:ANET) will announce sales of $416.52 million for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Arista Networks’ earnings, with estimates ranging from $410.00 million to $425.50 million. Arista Networks posted sales of $290.26 million in the same quarter last year, which would indicate a positive year over year growth rate of 43.5%. The company is expected to issue its next earnings report on Thursday, November 2nd.
On average, analysts expect that Arista Networks will report full-year sales of $416.52 million for the current financial year, with estimates ranging from $1.46 billion to $1.62 billion. For the next financial year, analysts expect that the business will report sales of $1.94 billion per share, with estimates ranging from $1.71 billion to $2.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Arista Networks.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The company had revenue of $405.21 million during the quarter, compared to analysts’ expectations of $361.02 million. During the same quarter last year, the business posted $0.74 EPS. The firm’s revenue for the quarter was up 50.8% compared to the same quarter last year.
ANET has been the topic of several research reports. William Blair upgraded Arista Networks from a “market perform” rating to an “outperform” rating in a report on Friday, August 4th. Barclays PLC upped their target price on Arista Networks from $161.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, June 15th. Wells Fargo & Company reissued an “outperform” rating on shares of Arista Networks in a research report on Tuesday, July 4th. Argus restated a “buy” rating on shares of Arista Networks in a research note on Monday, August 7th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $180.00 price objective (up from $160.00) on shares of Arista Networks in a report on Wednesday, August 9th. Fifteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Arista Networks presently has an average rating of “Buy” and a consensus price target of $164.14.
Arista Networks (ANET) opened at 189.42 on Wednesday. Arista Networks has a 12-month low of $78.82 and a 12-month high of $193.24. The company has a market cap of $13.74 billion, a P/E ratio of 48.88 and a beta of 1.31. The firm has a 50-day moving average price of $178.41 and a 200-day moving average price of $154.81.
In other news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred 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 sale, the senior vice president now directly owns 11,775 shares of the company’s stock, valued at $1,771,313.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 10,083 shares of Arista Networks stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $149.09, for a total value of $1,503,274.47. Following the completion of the sale, the senior vice president now directly owns 1,202 shares in the company, valued at $179,206.18. The disclosure for this sale can be found here. Insiders have sold a total of 426,117 shares of company stock worth $73,084,005 in the last quarter. Insiders own 28.09% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the last quarter. LS Investment Advisors LLC acquired a new position in Arista Networks during the second quarter worth about $119,000. D.A. Davidson & CO. boosted its position in Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after acquiring an additional 30 shares during the last quarter. SG Americas Securities LLC acquired a new position in Arista Networks during the first quarter worth about $164,000. Finally, Daiwa Securities Group Inc. acquired a new position in Arista Networks during the second quarter worth about $202,000. Institutional investors own 59.34% 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.
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