Arista Networks’ (ANET) Buy Rating Reaffirmed at KeyCorp
KeyCorp reaffirmed their buy rating on shares of Arista Networks, Inc. (NYSE:ANET) in a research report released on Friday. KeyCorp currently has a $200.00 price objective on the technology company’s stock.
ANET has been the topic of a number of other reports. BMO Capital Markets reaffirmed an outperform rating and set a $190.00 price target (up from $167.00) on shares of Arista Networks in a research note on Friday, August 4th. J P Morgan Chase & Co raised Arista Networks from a neutral rating to an overweight rating and upped their price target for the stock from $144.00 to $186.00 in a research note on Friday, August 4th. Argus reaffirmed a buy rating on shares of Arista Networks in a research note on Monday, August 7th. Needham & Company LLC reaffirmed a buy rating and set a $175.00 price target on shares of Arista Networks in a research note on Tuesday, September 12th. Finally, Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $180.00 price target (up from $160.00) on shares of Arista Networks in a research note on Wednesday, August 9th. Fifteen investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Arista Networks currently has a consensus rating of Buy and an average target price of $164.14.
Arista Networks (NYSE ANET) traded up 1.10% on Friday, hitting $189.61. The company had a trading volume of 446,200 shares. The stock’s 50-day moving average price is $171.12 and its 200 day moving average price is $150.29. The company has a market capitalization of $13.75 billion, a P/E ratio of 48.93 and a beta of 1.30. Arista Networks has a one year low of $78.82 and a one year high of $192.08.
Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The business had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. During the same period in the prior year, the business earned $0.74 EPS. The firm’s revenue for the quarter was up 50.8% on a year-over-year basis. On average, analysts expect that Arista Networks will post $4.70 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Arista Networks’ (ANET) Buy Rating Reaffirmed at KeyCorp” was originally published by Watch List News and is the property of of Watch List News. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at https://www.watchlistnews.com/arista-networks-anet-buy-rating-reaffirmed-at-keycorp-2/1599401.html.
In other news, insider Jayshree Ullal sold 22,763 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $157.81, for a total value of $3,592,229.03. Following the completion of the transaction, the insider now directly owns 2,576 shares of the company’s stock, valued at $406,518.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $154.51, for a total value of $1,854,120.00. Following the completion of the transaction, the insider now directly owns 99,841 shares of the company’s stock, valued at $15,426,432.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 426,117 shares of company stock valued at $73,000,105. 28.09% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after acquiring an additional 126 shares during the period. LS Investment Advisors LLC bought a new position in shares of Arista Networks in the second quarter worth $119,000. D.A. Davidson & CO. boosted its holdings in shares of Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after acquiring an additional 30 shares during the period. SG Americas Securities LLC bought a new position in shares of Arista Networks in the first quarter worth $164,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Arista Networks in the second quarter worth $202,000. 59.34% of the stock is owned by hedge funds and other institutional investors.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.