Arista Networks, Inc. (NYSE:ANET) – Equities research analysts at KeyCorp lifted their Q1 2018 EPS estimates for shares of Arista Networks in a research note issued on Wednesday. KeyCorp analyst A. Kurtz now anticipates that the technology company will earn $1.11 per share for the quarter, up from their previous forecast of $1.06. KeyCorp has a “Overweight” rating and a $240.00 price target on the stock. KeyCorp also issued estimates for Arista Networks’ Q2 2018 earnings at $1.30 EPS, Q3 2018 earnings at $1.36 EPS, Q4 2018 earnings at $1.59 EPS, FY2018 earnings at $5.37 EPS and FY2019 earnings at $6.23 EPS.

ANET has been the topic of a number of other reports. JMP Securities increased their price objective on shares of Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. Deutsche Bank reaffirmed a “buy” rating and issued a $210.00 price target (up previously from $185.00) on shares of Arista Networks in a report on Monday, October 9th. BMO Capital Markets raised their price target on shares of Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a report on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Finally, Royal Bank of Canada raised shares of Arista Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Fourteen 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 company’s stock. The company presently has an average rating of “Buy” and an average target price of $197.55.

Shares of Arista Networks (NYSE:ANET) traded up $1.59 during mid-day trading on Friday, reaching $226.72. 782,700 shares of the company’s stock were exchanged, compared to its average volume of 831,316. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. Arista Networks has a twelve month low of $87.33 and a twelve month high of $245.65. The company has a market cap of $16,457.15, a P/E ratio of 54.12, a P/E/G ratio of 2.04 and a beta of 1.38.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors grew its position in shares of Arista Networks by 2.8% in the second quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock valued at $1,135,380,000 after purchasing an additional 209,783 shares during the period. Vanguard Group Inc. grew its position in shares of Arista Networks by 7.1% in the second quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock valued at $563,810,000 after purchasing an additional 249,753 shares during the period. BlackRock Inc. grew its position in shares of Arista Networks by 41.1% in the second quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock valued at $356,048,000 after purchasing an additional 692,651 shares during the period. State Street Corp grew its position in shares of Arista Networks by 44.7% in the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock valued at $159,278,000 after purchasing an additional 328,534 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Arista Networks by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 649,475 shares of the technology company’s stock valued at $123,136,000 after purchasing an additional 18,465 shares during the period. Institutional investors and hedge funds own 58.22% of the company’s stock.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $190.47, for a total value of $380,940.00. Following the completion of the transaction, the senior vice president now owns 13,002 shares of the company’s stock, valued at $2,476,490.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 7,775 shares of Arista Networks stock in a transaction on Monday, October 9th. The shares were sold at an average price of $194.12, for a total transaction of $1,509,283.00. The disclosure for this sale can be found here. Insiders sold 486,325 shares of company stock valued at $110,320,931 in the last ninety days. 28.09% of the stock is owned by corporate insiders.

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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.

Earnings History and Estimates for Arista Networks (NYSE:ANET)

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