Arista Networks (NYSE:ANET) Stock Price Expected to Rise, Evercore ISI Analyst Says

Arista Networks (NYSE:ANET) had its price objective increased by Evercore ISI from $110.00 to $130.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other research analysts have also commented on ANET. Wells Fargo & Company lifted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Barclays reduced their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Stock Up 1.4 %

Shares of Arista Networks stock opened at $119.78 on Friday. The business has a 50-day moving average price of $107.45 and a 200 day moving average price of $96.74. Arista Networks has a fifty-two week low of $60.08 and a fifty-two week high of $120.98. The firm has a market cap of $150.90 billion, a P/E ratio of 57.59, a P/E/G ratio of 3.09 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts anticipate that Arista Networks will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 2,496 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $96.83, for a total value of $241,693.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $98.30, for a total value of $786,360.00. Following the completion of the transaction, the director now directly owns 179,784 shares in the company, valued at $17,671,868.28. This represents a 4.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 345,316 shares of company stock valued at $37,761,976. 3.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GW Henssler & Associates Ltd. grew its position in Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares in the last quarter. Deepwater Asset Management LLC acquired a new stake in shares of Arista Networks in the second quarter worth $15,084,000. Sumitomo Life Insurance Co. grew its holdings in shares of Arista Networks by 69.8% during the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after buying an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC acquired a new position in Arista Networks during the third quarter valued at $2,318,000. Finally, Greenleaf Trust lifted its stake in Arista Networks by 20.1% in the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock worth $5,076,000 after acquiring an additional 2,216 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.