Arista Networks, Inc. (NYSE:ANET) had its price objective lifted by investment analysts at BMO Capital Markets to $205.00 in a research note issued to investors on Friday, The Fly reports. The firm currently has a “market perform” rating on the technology company’s stock. The analysts noted that the move was a valuation call.

A number of other research firms have also recently weighed in on ANET. Jefferies Group LLC reissued a “hold” rating and issued a $145.00 target price (up previously from $120.00) on shares of Arista Networks in a research note on Wednesday, August 9th. Deutsche Bank AG reissued a “buy” rating and issued a $165.00 target price (up previously from $156.00) on shares of Arista Networks in a research note on Monday, July 17th. Needham & Company LLC upped their target price on shares of Arista Networks from $175.00 to $217.00 and gave the company a “buy” rating in a research note on Friday. William Blair raised shares of Arista Networks from a “market perform” rating to an “outperform” rating in a research note on Friday, August 4th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $165.00 target price (up previously from $145.00) on shares of Arista Networks in a research note on Wednesday, August 9th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $176.22.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. The business had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The firm’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share.

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In other Arista Networks news, insider Jayshree Ullal sold 148,989 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $173.74, for a total value of $25,885,348.86. Following the completion of the sale, the insider now owns 2,576 shares of the company’s stock, valued at $447,554.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $176.09, for a total transaction of $352,180.00. Following the completion of the sale, the senior vice president now directly owns 13,002 shares of the company’s stock, valued at approximately $2,289,522.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,778 shares of company stock valued at $34,901,741. 28.09% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of ANET. PNC Financial Services Group Inc. increased its stake in Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after purchasing an additional 126 shares in the last quarter. LS Investment Advisors LLC bought a new stake in Arista Networks in the second quarter valued at approximately $119,000. D.A. Davidson & CO. increased its stake in Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after purchasing an additional 30 shares in the last quarter. SG Americas Securities LLC bought a new stake in Arista Networks in the first quarter valued at approximately $164,000. Finally, Daiwa Securities Group Inc. bought a new stake in Arista Networks in the second quarter valued at approximately $202,000. 59.38% of the stock is owned by hedge funds and other 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.

The Fly

Analyst Recommendations for Arista Networks (NYSE:ANET)

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