Arista Networks Inc (ANET) Given Consensus Rating of “Buy” by Analysts

Arista Networks Inc (NYSE:ANET) has earned a consensus recommendation of “Buy” from the thirty-four research firms that are currently covering the stock, MarketBeat.com reports. Fourteen equities research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $205.86.

ANET has been the subject of a number of research analyst reports. BidaskClub upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Berenberg Bank assumed coverage on Arista Networks in a report on Tuesday, September 26th. They set a “buy” rating and a $225.00 price target for the company. Citigroup restated a “buy” rating and set a $215.00 price objective on shares of Arista Networks in a report on Wednesday, September 27th. BMO Capital Markets cut Arista Networks from an “outperform” rating to a “market perform” rating and set a $190.00 price objective for the company. in a report on Thursday, September 28th. They noted that the move was a valuation call. Finally, KeyCorp restated a “buy” rating and set a $200.00 price objective on shares of Arista Networks in a report on Friday, September 29th.

Arista Networks (NYSE:ANET) traded up $5.65 during trading on Friday, reaching $270.84. The company had a trading volume of 681,559 shares, compared to its average volume of 745,453. Arista Networks has a fifty-two week low of $87.54 and a fifty-two week high of $271.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. The company has a market capitalization of $19,800.00, a PE ratio of 56.19, a P/E/G ratio of 2.01 and a beta of 1.38.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.33. Arista Networks had a return on equity of 24.76% and a net margin of 25.10%. sell-side analysts anticipate that Arista Networks will post 4.63 earnings per share for the current year.

In other Arista Networks news, insider Jayshree Ullal sold 81,380 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $211.89, for a total transaction of $17,243,608.20. Following the completion of the transaction, the insider now directly owns 3,564 shares in the company, valued at $755,175.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $211.39, for a total transaction of $1,479,730.00. Following the transaction, the senior vice president now owns 16,002 shares of the company’s stock, valued at $3,382,662.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 618,126 shares of company stock valued at $142,771,964. Company insiders own 28.09% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ANET. BlackRock Inc. grew its stake in shares of Arista Networks by 41.1% during the second quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock worth $356,048,000 after buying an additional 692,651 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Arista Networks during the second quarter worth $592,000. State Street Corp grew its stake in shares of Arista Networks by 44.7% during the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after buying an additional 328,534 shares during the last quarter. Atlantic Trust Group LLC bought a new stake in shares of Arista Networks during the third quarter worth $50,736,000. Finally, Vanguard Group Inc. grew its stake in shares of Arista Networks by 7.1% during the second quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after buying an additional 249,753 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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