Arista Networks, Inc. (NYSE:ANET) Receives Average Recommendation of “Moderate Buy” from Brokerages

Arista Networks, Inc. (NYSE:ANET) has received an average recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $358.63.

A number of brokerages have recently commented on ANET. JPMorgan Chase & Co. lifted their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. Bank of America lifted their price objective on shares of 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 reissued a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Finally, Evercore ISI restated an “outperform” rating and set a $400.00 target price on shares of Arista Networks in a research note on Friday.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the transaction, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. The disclosure for this sale can be found here. Insiders sold 106,989 shares of company stock worth $37,891,416 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. acquired a new position in Arista Networks during the first quarter worth $26,000. Beacon Capital Management LLC grew its stake in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter worth $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 1.2 %

Arista Networks stock opened at $359.76 on Tuesday. The company has a market cap of $113.02 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. Arista Networks has a 1-year low of $168.25 and a 1-year high of $376.50. The company has a fifty day simple moving average of $341.07 and a 200 day simple moving average of $313.64.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Arista Networks will post 7.38 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.