Arista Networks (NYSE:ANET) Price Target Raised to $100.00

Arista Networks (NYSE:ANET) had its target price boosted by Morgan Stanley from $73.00 to $100.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Barclays reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup dropped their price objective on Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $108.36.

Arista Networks Stock Up 3.7 %

Arista Networks stock opened at $91.08 on Thursday. The firm has a market capitalization of $114.36 billion, a P/E ratio of 41.03, a PEG ratio of 3.10 and a beta of 1.38. The firm has a fifty day moving average of $79.15 and a 200-day moving average of $97.72. Arista Networks has a 52-week low of $59.43 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. On average, research analysts expect that Arista Networks will post 2.2 EPS for the current fiscal year.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,355 shares of company stock worth $39,446,799 in the last three months. 3.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Forte Capital LLC ADV bought a new stake in Arista Networks during the first quarter valued at about $4,260,000. Commerzbank Aktiengesellschaft FI boosted its stake in Arista Networks by 97.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 11,828 shares of the technology company’s stock valued at $917,000 after purchasing an additional 5,841 shares during the period. Hudock Inc. acquired a new stake in Arista Networks in the 1st quarter valued at approximately $230,000. Legacy Capital Wealth Partners LLC increased its position in Arista Networks by 7.1% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 6,809 shares of the technology company’s stock worth $528,000 after buying an additional 452 shares during the period. Finally, Altman Advisors Inc. lifted its holdings in shares of Arista Networks by 2.0% during the first quarter. Altman Advisors Inc. now owns 23,481 shares of the technology company’s stock worth $1,932,000 after buying an additional 471 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.