Analysts Set Arista Networks, Inc. (NYSE:ANET) PT at $100.70

Arista Networks, Inc. (NYSE:ANET) has been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $100.70.

Several analysts have issued reports on the stock. Barclays lowered their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Rosenblatt Securities boosted their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI upped their target price on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research report on Tuesday, October 1st.

Insider Activity

In related news, SVP Marc Taxay sold 2,496 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $97.09, for a total transaction of $242,342.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 353,476 shares of company stock valued at $36,841,998. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after buying an additional 411,109 shares during the period. Geode Capital Management LLC increased its position in shares of Arista Networks by 4.2% in the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after acquiring an additional 236,151 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Arista Networks by 22.7% during the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after acquiring an additional 492,615 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Arista Networks by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company’s stock valued at $876,481,000 after acquiring an additional 99,790 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after purchasing an additional 20,278 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 3.4 %

Shares of Arista Networks stock opened at $112.81 on Thursday. The business’s fifty day moving average price is $102.17 and its 200 day moving average price is $92.48. Arista Networks has a twelve month low of $56.65 and a twelve month high of $116.94. The stock has a market capitalization of $142.11 billion, a P/E ratio of 54.24, a PEG ratio of 3.21 and a beta of 1.10.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $0.41 earnings per share. Arista Networks’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts predict that Arista Networks will post 1.96 EPS for the current 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.