Arista Networks, Inc. (ANET) Receives Buy Rating from KeyCorp
Arista Networks, Inc. (NYSE:ANET)‘s stock had its “buy” rating restated by KeyCorp in a research note issued to investors on Friday.
Other research analysts also recently issued reports about the stock. JMP Securities boosted their target price on shares of Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a research report on Thursday, October 26th. Deutsche Bank AG reissued a “buy” rating and set a $210.00 target price (up previously from $185.00) on shares of Arista Networks in a research note on Monday, October 9th. BidaskClub raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. Zacks Investment Research cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 price objective on shares of Arista Networks in a research note on Tuesday, September 12th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $180.21.
Shares of Arista Networks (NYSE:ANET) traded up $4.23 during mid-day trading on Friday, reaching $201.49. 3,205,081 shares of the company traded hands, compared to its average volume of 625,684. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of 43.55, a price-to-earnings-growth ratio of 2.30 and a beta of 1.31. 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 12 month low of $79.05 and a 12 month high of $202.15.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.15. The business had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. Arista Networks had a net margin of 25.10% and a return on equity of 26.23%. The business’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. analysts anticipate that Arista Networks will post 4.08 EPS for the current fiscal year.
In other news, insider Jayshree Ullal sold 148,989 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 2,576 shares in the company, valued at approximately $447,554.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction 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 owns 13,002 shares in the company, valued at $2,289,522.18. The disclosure for this sale can be found here. Insiders sold a total of 198,778 shares of company stock worth $34,901,741 over the last 90 days. Company insiders own 28.09% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Arista Networks by 20.5% in 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 last quarter. LS Investment Advisors LLC purchased a new position in shares of Arista Networks in the 2nd quarter valued at $119,000. D.A. Davidson & CO. grew its position in shares of Arista Networks by 3.2% in 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 last quarter. Empirical Finance LLC purchased a new position in shares of Arista Networks in the 3rd quarter valued at $231,000. Finally, SG Americas Securities LLC purchased a new position in shares of Arista Networks in the 1st quarter valued at $164,000. Institutional investors and hedge funds own 59.38% 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.
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