Analysts Set Arista Networks, Inc. (NYSE:ANET) Target Price at $107.38

Arista Networks, Inc. (NYSE:ANET) has been assigned a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $107.38.

ANET has been the subject of several recent analyst reports. Evercore ISI lowered their price objective on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC assumed coverage on Arista Networks in a report on Wednesday, May 28th. They set a “buy” rating on the stock. BNP Paribas Exane cut Arista Networks from an “outperform” rating to a “neutral” rating and set a $106.00 price objective for the company. in a report on Wednesday. Redburn Atlantic assumed coverage on Arista Networks in a research report on Wednesday, May 28th. They issued a “buy” rating and a $112.00 price objective on the stock. Finally, Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares in the company, valued at approximately $10,840,249.20. The trade was a 5.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now directly owns 7,480 shares in the company, valued at $512,305.20. This trade represents a 16.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,690 shares of company stock worth $9,360,205 in the last three months. 3.39% of the stock is owned by corporate insiders.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after acquiring an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Arista Networks in the 4th quarter worth $202,000. Stephens Inc. AR raised its stake in shares of Arista Networks by 318.1% in the fourth quarter. Stephens Inc. AR now owns 11,503 shares of the technology company’s stock worth $1,271,000 after purchasing an additional 8,752 shares during the last quarter. Sapient Capital LLC lifted its holdings in shares of Arista Networks by 300.4% during the fourth quarter. Sapient Capital LLC now owns 3,900 shares of the technology company’s stock valued at $431,000 after purchasing an additional 2,926 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its position in shares of Arista Networks by 87.7% during the fourth quarter. Focus Financial Network Inc. now owns 2,284 shares of the technology company’s stock valued at $252,000 after buying an additional 1,067 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $92.28 on Thursday. Arista Networks has a one year low of $59.43 and a one year high of $133.58. The business’s 50 day simple moving average is $85.82 and its two-hundred day simple moving average is $96.36. The stock has a market capitalization of $115.89 billion, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 3.10 and a beta of 1.37.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the business earned $0.50 earnings per share. The business’s revenue was up 27.6% on a year-over-year basis. Sell-side analysts expect that Arista Networks will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.