Arista Networks’ (ANET) “Buy” Rating Reaffirmed at KeyCorp
Arista Networks, Inc. (NYSE:ANET)‘s stock had its “buy” rating reaffirmed by KeyCorp in a research report issued on Tuesday. They currently have a $176.00 price target on the technology company’s stock. KeyCorp’s target price suggests a potential downside of 3.66% from the stock’s current price.
ANET has been the topic of several other research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 price objective (up previously 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 raised their price objective 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 issued a $175.00 price objective on shares of Arista Networks in a research note on Tuesday, September 12th. Finally, DA Davidson downgraded Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 price objective on the stock. in a research note on Monday, May 22nd. Sixteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $156.00.
Shares of Arista Networks (NYSE ANET) traded up 0.20% during midday trading on Tuesday, hitting $183.04. The stock had a trading volume of 289,342 shares. The stock’s 50 day moving average price is $170.19 and its 200 day moving average price is $149.84. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 47.24 and a beta of 1.30. Arista Networks has a 12 month low of $78.82 and a 12 month high of $185.41.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The firm had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. During the same quarter last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 50.8% compared to the same quarter last year. On average, equities analysts forecast that Arista Networks will post $4.70 EPS for the current fiscal year.
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In other news, SVP Kenneth Duda sold 8,687 shares of Arista Networks stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $174.94, for a total value of $1,519,703.78. Following the completion of the transaction, the senior vice president now owns 1,593 shares in the company, valued at approximately $278,679.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $148.52, for a total value of $297,040.00. Following the completion of the transaction, the senior vice president now owns 11,775 shares of the company’s stock, valued at approximately $1,748,823. The disclosure for this sale can be found here. In the last quarter, insiders sold 626,331 shares of company stock valued at $104,898,551. Company insiders own 28.09% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Arista Networks by 34,238.9% during the 1st quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock valued at $222,784,000 after acquiring an additional 1,679,417 shares during the period. Harbour Capital Advisors LLC boosted its holdings in Arista Networks by 13,502.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock valued at $8,200,000 after acquiring an additional 1,219,248 shares during the period. FMR LLC boosted its holdings in Arista Networks by 32.2% during the 1st quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock valued at $435,004,000 after acquiring an additional 800,465 shares during the period. Koch Industries Inc. purchased a new position in Arista Networks during the 2nd quarter valued at $592,000. Finally, Vanguard Group Inc. boosted its holdings in Arista Networks by 12.8% during the 1st quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock valued at $464,830,000 after acquiring an additional 399,688 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.
About Arista Networks
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.
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