Arista Networks, Inc. (NYSE:ANET) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Arista Networks, Inc. (NYSE:ANET) have been given a consensus rating of “Moderate Buy” by the twenty-three research firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $175.4118.

A number of research firms have recently commented on ANET. Piper Sandler restated an “overweight” rating and issued a $175.00 price objective (up from $159.00) on shares of Arista Networks in a research report on Friday. KeyCorp reissued an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a report on Friday. Evercore ISI reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a report on Friday. UBS Group reiterated a “buy” rating and issued a $177.00 price objective on shares of Arista Networks in a research report on Friday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research report on Friday.

Insiders Place Their Bets

In related news, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the transaction, the director directly owned 8,980 shares in the company, valued at approximately $1,052,007. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the sale, the insider owned 522,400 shares of the company’s stock, valued at approximately $67,091,832. The trade was a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 160,464 shares of company stock worth $20,351,388. Insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp lifted its holdings in shares of Arista Networks by 81.0% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 126,390 shares of the technology company’s stock worth $16,561,000 after acquiring an additional 56,547 shares during the last quarter. Sienna Gestion raised its position in Arista Networks by 2.4% in the 4th quarter. Sienna Gestion now owns 130,532 shares of the technology company’s stock worth $17,202,000 after purchasing an additional 3,043 shares during the period. Venture Visionary Partners LLC lifted its stake in Arista Networks by 60.3% in the fourth quarter. Venture Visionary Partners LLC now owns 3,012 shares of the technology company’s stock worth $395,000 after purchasing an additional 1,133 shares during the last quarter. Resources Management Corp CT ADV boosted its position in Arista Networks by 160.0% during the fourth quarter. Resources Management Corp CT ADV now owns 1,300 shares of the technology company’s stock valued at $170,000 after buying an additional 800 shares during the period. Finally, Sargent Investment Group LLC purchased a new stake in Arista Networks during the fourth quarter valued at about $222,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $141.46 on Tuesday. The stock has a fifty day moving average of $133.30 and a 200-day moving average of $137.23. The stock has a market cap of $178.13 billion, a PE ratio of 51.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. Arista Networks has a fifty-two week low of $59.43 and a fifty-two week high of $164.94.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts predict 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.