Brokerages Set Arista Networks, Inc. (NYSE:ANET) Target Price at $102.42

Arista Networks, Inc. (NYSE:ANET) has earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $102.42.

ANET has been the subject of a number of research analyst reports. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities boosted their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th.

Insider Buying and Selling

In other news, SVP Marc Taxay sold 2,496 shares of Arista Networks stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $96.83, for a total transaction of $241,693.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 3,328 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $99.35, for a total value of $330,628.48. Following the completion of the sale, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,026,252.59. This represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 345,316 shares of company stock valued at $37,761,976 over the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after acquiring an additional 884,703 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Arista Networks by 4,160.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares during the last quarter. Wellington Management Group LLP grew its holdings in Arista Networks by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after buying an additional 492,615 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in Arista Networks by 263.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 630,248 shares of the technology company’s stock valued at $69,661,000 after buying an additional 457,068 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 1.0 %

ANET opened at $116.07 on Monday. Arista Networks has a 12 month low of $60.08 and a 12 month high of $120.28. The firm has a market cap of $146.22 billion, a P/E ratio of 55.80, a P/E/G ratio of 3.21 and a beta of 1.08. The stock has a 50-day moving average of $107.03 and a 200 day moving average of $96.46.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, research analysts forecast that Arista Networks will post 1.96 earnings per share for the current fiscal year.

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.