Arista Networks’ (ANET) Overweight Rating Reaffirmed at KeyCorp
Arista Networks (NYSE:ANET)‘s stock had its “overweight” rating reissued by stock analysts at KeyCorp in a research note issued to investors on Thursday, The Fly reports. They presently have a $240.00 target price on the technology company’s stock, up from their previous target price of $213.00. KeyCorp’s price objective would suggest a potential upside of 5.11% from the company’s previous close.
A number of other analysts also recently issued reports on the company. BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. Royal Bank of Canada raised Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. JMP Securities lifted their price objective on Arista Networks from $185.00 to $230.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Cowen reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Arista Networks in a research note on Friday, November 3rd. Finally, Needham & Company LLC lifted their price objective on Arista Networks from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Fifteen analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $193.93.
Arista Networks (NYSE ANET) traded up $3.19 during trading hours on Thursday, reaching $228.32. The company’s stock had a trading volume of 241,010 shares, compared to its average volume of 831,518. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. Arista Networks has a 1-year low of $87.33 and a 1-year high of $245.65. The company has a market cap of $15,954.21, a P/E ratio of 52.46, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38.
A number of institutional investors and hedge funds have recently bought and sold shares of ANET. BlackRock Inc. boosted its holdings in Arista Networks by 34,238.9% during the 1st quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock valued at $222,784,000 after acquiring an additional 1,679,417 shares during the period. Harbour Capital Advisors LLC raised its position in Arista Networks by 13,502.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock valued at $8,200,000 after purchasing an additional 1,219,248 shares in the last quarter. Criterion Capital Management LLC bought a new stake in Arista Networks during the 2nd quarter valued at $73,407,000. Alliancebernstein L.P. raised its position in Arista Networks by 60.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,552,042 shares of the technology company’s stock valued at $164,300,000 after purchasing an additional 960,594 shares in the last quarter. Finally, FMR LLC raised its position in Arista Networks by 32.2% during the 1st quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock valued at $435,004,000 after purchasing an additional 800,465 shares in the last quarter. Institutional investors own 58.22% 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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