Arista Networks (NYSE:ANET) had its price objective upped by research analysts at Morgan Stanley to $310.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective points to a potential upside of 13.49% from the stock’s current price.
A number of other analysts have also recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Arista Networks from $200.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, January 8th. BidaskClub upgraded shares of Arista Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. Citigroup restated a “buy” rating and issued a $275.00 price objective on shares of Arista Networks in a research note on Monday, December 18th. They noted that the move was a valuation call. Royal Bank of Canada upgraded shares of Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $270.00 price objective on shares of Arista Networks in a research note on Thursday, December 14th. Fifteen investment 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 stock. The company has an average rating of “Buy” and an average price target of $207.21.
Shares of Arista Networks (NYSE ANET) traded down $2.52 during trading on Tuesday, hitting $273.14. 942,198 shares of the stock were exchanged, compared to its average volume of 729,649. 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 $87.54 and a twelve month high of $276.21. The firm has a market capitalization of $19,970.00, a PE ratio of 56.67, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.33. Arista Networks had a net margin of 25.10% and a return on equity of 24.76%. equities research analysts anticipate that Arista Networks will post 4.63 EPS for the current year.
In other news, insider Jayshree Ullal sold 81,380 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $211.89, for a total value of $17,243,608.20. Following the sale, the insider now owns 3,564 shares in the company, valued at approximately $755,175.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 7,000 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 16,002 shares in the company, valued at approximately $3,382,662.78. The disclosure for this sale can be found here. Insiders sold a total of 618,126 shares of company stock worth $142,771,964 in the last 90 days. 28.09% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new position in Arista Networks during the 3rd quarter worth about $130,000. PNC Financial Services Group Inc. lifted its position in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after buying an additional 126 shares in the last quarter. LS Investment Advisors LLC acquired a new position in Arista Networks during the 2nd quarter worth about $119,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Arista Networks during the 3rd quarter worth about $151,000. Finally, TRUE Private Wealth Advisors acquired a new position in Arista Networks during the 4th quarter worth about $210,000. Institutional investors own 58.02% of the company’s stock.
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.