Arista Networks Inc (ANET) Receives Consensus Recommendation of “Buy” from Brokerages

Arista Networks Inc (NYSE:ANET) has been assigned a consensus recommendation of “Buy” from the thirty-four analysts that are covering the stock, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $230.17.

Several equities analysts recently issued reports on ANET shares. KeyCorp reaffirmed a “buy” rating on shares of Arista Networks in a research report on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and set a $217.00 price target (up from $175.00) on shares of Arista Networks in a report on Friday, November 3rd. They noted that the move was a valuation call. DA Davidson raised Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Friday, November 3rd. Cowen reissued a “buy” rating and set a $200.00 price target on shares of Arista Networks in a report on Friday, November 3rd. Finally, Citigroup reissued a “buy” rating and set a $220.00 price target (up from $215.00) on shares of Arista Networks in a report on Friday, November 3rd.

Arista Networks (NYSE ANET) traded up $8.12 during mid-day trading on Tuesday, reaching $292.58. The company had a trading volume of 1,020,000 shares, compared to its average volume of 866,047. The company has a market cap of $21,390.00, a PE ratio of 60.70, a PEG ratio of 2.10 and a beta of 1.47. Arista Networks has a fifty-two week low of $98.62 and a fifty-two week high of $292.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $275.31, for a total value of $550,620.00. Following the completion of the sale, the senior vice president now owns 12,294 shares in the company, valued at approximately $3,384,661.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ita M. Brennan sold 3,500 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $229.97, for a total value of $804,895.00. Following the completion of the sale, the insider now owns 17,677 shares of the company’s stock, valued at approximately $4,065,179.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,683 shares of company stock worth $92,010,804. 28.09% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. increased its stake in Arista Networks by 164.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 484 shares of the technology company’s stock worth $114,000 after buying an additional 301 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new position in shares of Arista Networks during the third quarter valued at about $130,000. PNC Financial Services Group Inc. grew its position in shares of Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after purchasing an additional 126 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Arista Networks during the third quarter valued at about $151,000. Finally, TRUE Private Wealth Advisors purchased a new position in shares of Arista Networks during the fourth quarter valued at about $210,000. Institutional investors and hedge funds own 58.15% of the company’s stock.

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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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