Analysts expect Arista Networks Inc (NYSE:ANET) to report sales of $462.56 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Arista Networks’ earnings, with estimates ranging from $458.50 million to $470.00 million. Arista Networks reported sales of $335.48 million in the same quarter last year, which indicates a positive year over year growth rate of 37.9%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Arista Networks will report full year sales of $462.56 million for the current fiscal year, with estimates ranging from $2.02 billion to $2.13 billion. For the next financial year, analysts anticipate that the business will post sales of $2.54 billion per share, with estimates ranging from $2.32 billion to $2.69 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Arista Networks.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.32. The company had revenue of $467.90 million during the quarter, compared to the consensus estimate of $463.82 million. Arista Networks had a net margin of 25.71% and a return on equity of 25.86%. Arista Networks’s revenue for the quarter was up 42.7% on a year-over-year basis. During the same period last year, the firm earned $1.04 EPS.
Arista Networks (ANET) opened at $297.40 on Tuesday. The company has a market cap of $21,740.00, a P/E ratio of 49.82, a P/E/G ratio of 2.14 and a beta of 1.46. Arista Networks has a fifty-two week low of $124.81 and a fifty-two week high of $311.67. The company has a quick ratio of 3.70, a current ratio of 4.28 and a debt-to-equity ratio of 0.02.
In other news, SVP Kenneth Duda sold 127,576 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $235.15, for a total transaction of $29,999,496.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 433 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $245.37, for a total transaction of $106,245.21. Following the sale, the director now owns 5,833 shares in the company, valued at approximately $1,431,243.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,203 shares of company stock worth $52,290,318. Corporate insiders own 28.09% of the company’s stock.
Large investors have recently modified their holdings of the stock. Strs Ohio raised its position in Arista Networks by 28.9% in the 4th quarter. Strs Ohio now owns 78,103 shares of the technology company’s stock worth $18,399,000 after purchasing an additional 17,500 shares during the period. KBC Group NV raised its position in Arista Networks by 341.5% in the 4th quarter. KBC Group NV now owns 14,983 shares of the technology company’s stock worth $3,530,000 after purchasing an additional 11,589 shares during the period. C M Bidwell & Associates Ltd. raised its position in Arista Networks by 78.4% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 3,880 shares of the technology company’s stock worth $914,000 after purchasing an additional 1,705 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Arista Networks by 8.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 142,562 shares of the technology company’s stock worth $27,031,000 after purchasing an additional 10,593 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in Arista Networks in the 4th quarter worth $918,000. Institutional investors own 56.52% of the company’s stock.
About Arista Networks
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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