Arista Networks (NYSE:ANET) Price Target Raised to $425.00

Arista Networks (NYSE:ANET) had its price objective hoisted by UBS Group from $369.00 to $425.00 in a report issued on Friday,Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

A number of other research firms have also recently issued reports on ANET. Evercore ISI lifted their target price on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Jefferies Financial Group upped their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and set a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $421.00 price target (up previously from $345.00) on shares of Arista Networks in a research report on Friday. Finally, Wells Fargo & Company raised their price objective on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $395.19.

Arista Networks Stock Performance

Arista Networks stock opened at $397.31 on Friday. The firm’s 50 day moving average price is $382.60 and its two-hundred day moving average price is $345.46. The firm has a market cap of $124.81 billion, a PE ratio of 47.75, a P/E/G ratio of 3.52 and a beta of 1.08. Arista Networks has a twelve month low of $206.83 and a twelve month high of $431.97.

Arista Networks’s stock is going to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. Arista Networks had a return on equity of 31.90% and a net margin of 40.29%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. Equities analysts anticipate that Arista Networks will post 7.42 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 2,575 shares of Arista Networks stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.38, for a total transaction of $912,528.50. Following the sale, the insider now owns 72 shares of the company’s stock, valued at approximately $25,515.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John F. Mccool sold 2,575 shares of Arista Networks stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $354.38, for a total transaction of $912,528.50. Following the sale, the insider now directly owns 72 shares in the company, valued at approximately $25,515.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,346 shares of company stock worth $30,021,432 over the last three months. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several institutional investors have recently bought and sold shares of ANET. GQG Partners LLC bought a new position in shares of Arista Networks during the first quarter valued at $881,848,000. Swedbank AB bought a new position in Arista Networks during the 1st quarter valued at about $521,767,000. Ameriprise Financial Inc. grew its stake in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares during the last quarter. International Assets Investment Management LLC grew its stake in Arista Networks by 39,841.1% during the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after buying an additional 872,919 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after acquiring an additional 503,597 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Company Profile

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.