Wall Street analysts forecast that Arista Networks, Inc. (NYSE:ANET) will post $417.69 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Arista Networks’ earnings. The lowest sales estimate is $410.00 million and the highest is $425.50 million. Arista Networks posted sales of $290.26 million during the same quarter last year, which suggests a positive year over year growth rate of 43.9%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, November 2nd.

On average, analysts expect that Arista Networks will report full year sales of $417.69 million for the current year, with estimates ranging from $1.46 billion to $1.62 billion. For the next fiscal year, analysts expect that the business will report sales of $1.95 billion per share, with estimates ranging from $1.71 billion to $2.15 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side 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, topping the 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 business had revenue of $405.21 million during the quarter, compared to analysts’ expectations of $361.02 million. During the same quarter last year, the firm posted $0.74 earnings per share. The firm’s revenue was up 50.8% on a year-over-year basis.

A number of research analysts recently issued reports on ANET shares. Pacific Crest restated an “overweight” rating and set a $168.00 price target (up previously from $145.00) on shares of Arista Networks in a report on Sunday, June 25th. BidaskClub downgraded Arista Networks from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 4th. Instinet downgraded Arista Networks from a “buy” rating to a “neutral” rating in a report on Tuesday, July 4th. Needham & Company LLC restated a “buy” rating and set a $150.00 price target on shares of Arista Networks in a report on Tuesday, July 4th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Arista Networks in a report on Tuesday, July 4th. Fifteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $166.49.

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In other news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $150.43, for a total transaction of $300,860.00. Following the transaction, the senior vice president now directly owns 11,775 shares of the company’s stock, valued at approximately $1,771,313.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jayshree Ullal sold 200,268 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $173.37, for a total value of $34,720,463.16. The disclosure for this sale can be found here. Insiders sold a total of 401,046 shares of company stock worth $69,923,064 over the last ninety days. 28.09% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares during the period. LS Investment Advisors LLC bought a new position in shares of Arista Networks during the 2nd quarter valued at $119,000. D.A. Davidson & CO. lifted its holdings in shares of Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after buying an additional 30 shares during the period. SG Americas Securities LLC bought a new position in shares of Arista Networks during the 1st quarter valued at $164,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Arista Networks during the 2nd quarter valued at $202,000. 59.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Arista Networks (ANET) opened at 191.68 on Monday. The company’s 50-day moving average price is $184.93 and its 200 day moving average price is $160.03. Arista Networks has a 1-year low of $79.05 and a 1-year high of $196.27. The firm has a market cap of $13.90 billion, a PE ratio of 49.47 and a beta of 1.31.

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.

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