Wall Street analysts forecast that Arista Networks Inc (NYSE:ANET) will announce sales of $547.14 million for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Arista Networks’ earnings. The lowest sales estimate is $539.46 million and the highest is $553.10 million. Arista Networks posted sales of $437.63 million in the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The business is scheduled to issue its next earnings report on Thursday, November 1st.

On average, analysts expect that Arista Networks will report full year sales of $2.12 billion for the current fiscal year, with estimates ranging from $2.09 billion to $2.14 billion. For the next year, analysts anticipate that the business will report sales of $2.57 billion per share, with estimates ranging from $2.35 billion to $2.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Arista Networks.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 2nd. The technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.50 by $0.43. Arista Networks had a return on equity of 28.51% and a net margin of 28.07%. The company had revenue of $519.85 million during the quarter, compared to the consensus estimate of $509.62 million. During the same period last year, the company earned $1.34 EPS. Arista Networks’s revenue for the quarter was up 28.3% on a year-over-year basis.

Several research firms recently commented on ANET. Morgan Stanley downgraded Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective for the company. in a report on Tuesday, September 4th. Loop Capital lifted their price objective on Arista Networks to $260.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. DA Davidson lifted their price objective on Arista Networks from $300.00 to $312.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. William Blair reiterated an “outperform” rating on shares of Arista Networks in a report on Monday, September 17th. Finally, Zacks Investment Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $303.00 price objective for the company in a report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and an average target price of $285.05.

In other news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $256.49, for a total transaction of $512,980.00. Following the transaction, the senior vice president now directly owns 15,370 shares of the company’s stock, valued at approximately $3,942,251.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 11,000 shares of Arista Networks stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $269.37, for a total value of $2,963,070.00. Following the transaction, the senior vice president now directly owns 1,845 shares in the company, valued at $496,987.65. The disclosure for this sale can be found here. Insiders sold 216,820 shares of company stock worth $64,777,011 over the last three months. Insiders own 24.95% of the company’s stock.

Several hedge funds have recently bought and sold shares of ANET. Three Peaks Capital Management LLC purchased a new position in Arista Networks in the 1st quarter worth approximately $101,000. Group One Trading L.P. purchased a new position in Arista Networks in the 1st quarter worth approximately $102,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in Arista Networks in the 2nd quarter worth approximately $129,000. Signet Financial Management LLC purchased a new position in Arista Networks in the 2nd quarter worth approximately $142,000. Finally, Cerebellum GP LLC purchased a new position in Arista Networks in the 2nd quarter worth approximately $159,000. 54.71% of the stock is currently owned by hedge funds and other institutional investors.

NYSE ANET traded up $4.92 during trading hours on Wednesday, hitting $274.21. The company’s stock had a trading volume of 715,200 shares, compared to its average volume of 1,105,477. Arista Networks has a 12 month low of $177.92 and a 12 month high of $313.37. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 57.34, a PEG ratio of 1.97 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.87 and a current ratio of 3.17.

About Arista Networks

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

See Also: Return on Equity (ROE)

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Earnings History and Estimates for Arista Networks (NYSE:ANET)

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