Arista Networks, Inc. (NYSE:ANET) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Arista Networks, Inc. (NYSE:ANET) have earned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $163.5625.

ANET has been the subject of a number of analyst reports. BNP Paribas upgraded Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Evercore ISI upped their target price on Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, September 12th. William Blair reiterated an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 22nd. Finally, Melius Research raised their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, September 12th.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the sale, the director directly owned 25,784 shares of the company’s stock, valued at approximately $3,302,672.56. The trade was a 23.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,852,324. The trade was a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,464 shares of company stock valued at $28,598,588 over the last 90 days. 3.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after purchasing an additional 5,955 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Arista Networks during the fourth quarter worth approximately $202,000. Bison Wealth LLC acquired a new stake in Arista Networks in the fourth quarter valued at approximately $251,000. Gamco Investors INC. ET AL lifted its stake in Arista Networks by 70.9% in the first quarter. Gamco Investors INC. ET AL now owns 3,193 shares of the technology company’s stock worth $247,000 after acquiring an additional 1,325 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Arista Networks by 66.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,085,512 shares of the technology company’s stock worth $84,108,000 after acquiring an additional 432,074 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 0.9%

Shares of NYSE ANET opened at $131.92 on Monday. The firm has a 50-day simple moving average of $135.01 and a 200-day simple moving average of $129.44. The stock has a market capitalization of $166.13 billion, a price-to-earnings ratio of 50.16, a price-to-earnings-growth ratio of 2.52 and a beta of 1.41. Arista Networks has a 52 week low of $59.43 and a 52 week high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. Arista Networks’s revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.40 EPS. As a group, equities research analysts expect that Arista Networks will post 2.2 EPS for the current year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.