Arista Networks (NYSE:ANET) had its price objective increased by Morgan Stanley from $210.00 to $260.00 in a research report issued on Thursday. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price indicates a potential upside of 11.04% from the company’s current price.
Other research analysts also recently issued reports about the company. Citigroup reiterated a “buy” rating and issued a $275.00 target price on shares of Arista Networks in a research note on Monday. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $270.00 target price on shares of Arista Networks in a research note on Thursday, December 14th. KeyCorp reiterated an “overweight” rating and issued a $240.00 target price (up from $213.00) on shares of Arista Networks in a research note on Thursday, December 14th. Deutsche Bank reiterated a “buy” rating and issued a $250.00 target price on shares of Arista Networks in a research note on Friday, December 1st. Finally, Bank of America lifted their target price on Arista Networks from $210.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, November 29th. Fourteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $200.14.
Arista Networks (NYSE ANET) traded down $1.85 during trading hours on Thursday, reaching $234.15. The company had a trading volume of 576,300 shares, compared to its average volume of 830,529. The stock has a market cap of $17,251.75, a P/E ratio of 56.73, a PEG ratio of 2.14 and a beta of 1.38. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. Arista Networks has a 12-month low of $87.33 and a 12-month high of $245.65.
Several large investors have recently made changes to their positions in the company. D.A. Davidson & CO. grew its position in shares of Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after purchasing an additional 30 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after purchasing an additional 126 shares during the period. M&T Bank Corp grew its position in shares of Arista Networks by 6.4% in the second quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock valued at $347,000 after purchasing an additional 140 shares during the period. Affinity Wealth Management grew its position in shares of Arista Networks by 11.6% in the second quarter. Affinity Wealth Management now owns 2,158 shares of the technology company’s stock valued at $323,000 after purchasing an additional 224 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in shares of Arista Networks by 13.9% in the second quarter. Oppenheimer & Co. Inc. now owns 2,105 shares of the technology company’s stock valued at $315,000 after purchasing an additional 257 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.
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.
