Arista Networks, Inc. (ANET) Price Target Raised to $200.00 at UBS Group AG (USA)
Arista Networks, Inc. (NYSE:ANET) had its price objective hoisted by research analysts at UBS Group AG (USA) from $165.00 to $200.00 in a report released on Friday, www.benzinga.com reports. The brokerage presently has a “neutral” rating on the technology company’s stock. UBS Group AG (USA)’s price objective suggests a potential downside of 0.74% from the company’s previous close.
Several other research firms have also weighed in on ANET. Argus reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “hold” rating and set a $145.00 price objective (up previously from $120.00) on shares of Arista Networks in a report on Wednesday, August 9th. BMO Capital Markets raised their price objective on shares of Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a report on Friday. They noted that the move was a valuation call. Cowen and Company reaffirmed a “buy” rating and set a $200.00 price objective on shares of Arista Networks in a report on Friday. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $165.00 price target (up previously from $145.00) on shares of Arista Networks in a report on Wednesday, August 9th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $180.21.
Arista Networks (NYSE ANET) traded up $4.23 during midday trading on Friday, hitting $201.49. 3,205,081 shares of the company traded hands, compared to its average volume of 638,355. The company has a current ratio of 3.19, a quick ratio of 2.60 and a debt-to-equity ratio of 0.03. Arista Networks has a twelve month low of $79.05 and a twelve month high of $202.15. The company has a market capitalization of $14,614.07, a PE ratio of 48.44, a PEG ratio of 2.56 and a beta of 1.31.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 25.10% and a return on equity of 26.23%. 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 company earned $0.74 earnings per share. The firm’s revenue was up 50.8% on a year-over-year basis. sell-side analysts predict that Arista Networks will post 4.08 earnings per share for the current year.
In related news, insider Anshul Sadana sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the completion of the transaction, the insider now directly owns 86,788 shares in the company, valued at approximately $16,485,380.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jayshree Ullal sold 148,989 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $173.74, for a total transaction of $25,885,348.86. Following the transaction, the insider now owns 2,576 shares of the company’s stock, valued at $447,554.24. The disclosure for this sale can be found here. Insiders sold a total of 198,778 shares of company stock valued at $34,901,741 in the last three months. Insiders own 28.09% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its position in Arista Networks by 38.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 12,924 shares of the technology company’s stock valued at $2,451,000 after acquiring an additional 3,591 shares during the period. Swiss National Bank increased its position in Arista Networks by 2.5% in the 3rd quarter. Swiss National Bank now owns 172,600 shares of the technology company’s stock valued at $32,727,000 after acquiring an additional 4,200 shares during the period. Scout Investments Inc. increased its position in Arista Networks by 103.5% in the 3rd quarter. Scout Investments Inc. now owns 172,691 shares of the technology company’s stock valued at $32,744,000 after acquiring an additional 87,813 shares during the period. Jaffetilchin Investment Partners LLC increased its position in Arista Networks by 21.8% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 12,777 shares of the technology company’s stock valued at $2,423,000 after acquiring an additional 2,287 shares during the period. Finally, Oregon Public Employees Retirement Fund acquired a new position in Arista Networks in the 3rd quarter valued at approximately $2,785,000. Institutional investors and hedge funds own 59.38% 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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