Arista Networks (ANET) Price Target Raised to $250.00

Arista Networks (NYSE:ANET) had its price objective lifted by investment analysts at Citigroup to $250.00 in a report released on Friday, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price target points to a potential upside of 9.34% from the stock’s current price.

Other analysts have also issued research reports about the company. Argus reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, August 7th. Cowen reaffirmed a “buy” rating and set a $168.00 price objective (up previously from $145.00) on shares of Arista Networks in a research note on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $175.00 price target on shares of Arista Networks in a research note on Tuesday, September 12th. KeyCorp reissued a “buy” rating and issued a $176.00 price target on shares of Arista Networks in a research note on Tuesday, September 19th. Finally, BidaskClub raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. Sixteen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Arista Networks currently has an average rating of “Buy” and a consensus price target of $192.55.

Arista Networks (ANET) traded down $4.47 on Friday, hitting $228.65. The company had a trading volume of 1,138,572 shares, compared to its average volume of 824,668. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $16,710.00, a price-to-earnings ratio of 58.55, a P/E/G ratio of 2.25 and a beta of 1.31. Arista Networks has a fifty-two week low of $87.33 and a fifty-two week high of $245.65.

In other news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $190.47, for a total value of $380,940.00. Following the transaction, the senior vice president now directly owns 13,002 shares in the company, valued at approximately $2,476,490.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andreas Bechtolsheim sold 132,370 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $240.17, for a total value of $31,791,302.90. Following the completion of the transaction, the insider now owns 73,102 shares in the company, valued at $17,556,907.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 489,512 shares of company stock worth $110,575,560. Company insiders own 28.09% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC purchased a new stake in shares of Arista Networks during the 3rd quarter valued at about $130,000. PNC Financial Services Group Inc. raised 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 purchased a new stake in shares of Arista Networks during the 2nd quarter valued at about $119,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Arista Networks during the 3rd quarter valued at about $151,000. Finally, D.A. Davidson & CO. raised 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. Institutional investors and hedge funds own 58.04% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first published by American Banking News and is owned by of American Banking News. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/12/01/arista-networks-anet-price-target-raised-to-250-00.html.

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)

Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply