Evercore ISI Increases Arista Networks (NYSE:ANET) Price Target to $425.00

Arista Networks (NYSE:ANET) had its price objective upped by research analysts at Evercore ISI from $400.00 to $425.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price objective indicates a potential upside of 11.37% from the stock’s previous close.

ANET has been the topic of a number of other reports. JPMorgan Chase & Co. upped their price target on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America upped their price objective on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Citigroup upped their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, KeyCorp upped their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $364.81.

Arista Networks Trading Down 0.6 %

Arista Networks stock traded down $2.20 during mid-day trading on Tuesday, hitting $381.62. The company had a trading volume of 473,717 shares, compared to its average volume of 2,278,884. The stock’s 50 day moving average price is $346.52 and its two-hundred day moving average price is $321.38. Arista Networks has a 12 month low of $168.25 and a 12 month high of $395.82. The company has a market capitalization of $119.59 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. Equities research analysts anticipate that Arista Networks will post 7.38 EPS for the current year.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the sale, the director now owns 2,565 shares in the company, valued at $915,038.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the transaction, the director now directly owns 2,565 shares of the company’s stock, valued at $915,038.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total value of $684,560.00. Following the transaction, the director now directly owns 50,946 shares of the company’s stock, valued at $17,437,796.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,157 shares of company stock worth $19,291,193. 3.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Institutional investors have recently modified their holdings of the stock. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks in the 1st quarter valued at approximately $26,000. Beacon Capital Management LLC raised its holdings in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new stake in shares of Arista Networks in the second quarter worth approximately $33,000. 82.47% of the stock is owned by institutional investors.

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.