KeyCorp Weighs in on Arista Networks Inc’s Q1 2018 Earnings (ANET)

Arista Networks Inc (NYSE:ANET) – KeyCorp lifted their Q1 2018 EPS estimates for Arista Networks in a research note issued to investors on Thursday. KeyCorp analyst A. Kurtz now forecasts that the technology company will post earnings per share of $1.12 for the quarter, up from their prior forecast of $1.11. KeyCorp currently has a “Overweight” rating and a $240.00 price objective on the stock. KeyCorp also issued estimates for Arista Networks’ Q2 2018 earnings at $1.31 EPS, Q3 2018 earnings at $1.40 EPS and FY2019 earnings at $6.39 EPS.

ANET has been the topic of a number of other research reports. JMP Securities boosted 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. Deutsche Bank reaffirmed a “buy” rating and set a $210.00 price target (up previously from $185.00) on shares of Arista Networks in a research note on Monday, October 9th. BMO Capital Markets upped their price target on Arista Networks from $190.00 to $205.00 and gave the company a “market perform” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. Finally, Royal Bank of Canada raised Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Fourteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $205.66.

Arista Networks (NYSE:ANET) opened at $270.84 on Monday. 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 $19,798.58, a price-to-earnings ratio of 55.96, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. Arista Networks has a one year low of $87.54 and a one year high of $271.87.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data 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%.

In related news, insider Andreas Bechtolsheim sold 39,680 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $241.92, for a total transaction of $9,599,385.60. Following the completion of the transaction, the insider now directly owns 73,102 shares in the company, valued at $17,684,835.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anshul Sadana sold 24,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $256.25, for a total value of $6,150,000.00. Following the transaction, the insider now owns 80,972 shares of the company’s stock, valued at $20,749,075. The disclosure for this sale can be found here. Insiders sold 618,126 shares of company stock valued at $142,771,964 over the last 90 days. Corporate insiders own 28.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ANET. BlackRock Inc. boosted its position in Arista Networks by 41.1% during 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 last quarter. Koch Industries Inc. acquired a new position in Arista Networks during the second quarter valued at approximately $592,000. State Street Corp boosted its position in Arista Networks by 44.7% during 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 last quarter. Atlantic Trust Group LLC acquired a new position in Arista Networks during the third quarter valued at approximately $50,736,000. Finally, Vanguard Group Inc. lifted 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 buying an additional 249,753 shares during the last quarter. 58.02% of the stock is 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.

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