Arista Networks (ANET) PT Raised to $270.00 at Oppenheimer
Arista Networks (NYSE:ANET) had its price objective hoisted by analysts at Oppenheimer from $200.00 to $270.00 in a research report issued on Monday. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 14.03% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Citigroup restated a “buy” rating and set a $215.00 price target on shares of Arista Networks in a research report on Wednesday, September 27th. Berenberg Bank started coverage on shares of Arista Networks in a research report on Tuesday, September 26th. They set a “buy” rating and a $225.00 price target for the company. BidaskClub upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Saturday, September 23rd. KeyCorp restated a “buy” rating and set a $176.00 price target on shares of Arista Networks in a research report on Tuesday, September 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $175.00 target price on shares of Arista Networks in a research report on Tuesday, September 12th. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Arista Networks has an average rating of “Buy” and an average price target of $203.24.
Arista Networks (NYSE:ANET) opened at $236.77 on Monday. The firm has a market cap of $17,310.00, a PE ratio of 49.12, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. Arista Networks has a 1 year low of $87.33 and a 1 year high of $245.65.
In other news, SVP Kenneth Duda sold 127,576 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $235.15, for a total value of $29,999,496.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $211.39, for a total transaction of $1,479,730.00. Following the completion of the transaction, the senior vice president now owns 16,002 shares of the company’s stock, valued at $3,382,662.78. The disclosure for this sale can be found here. Insiders sold 606,126 shares of company stock valued at $138,901,364 over the last 90 days. 28.09% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in Arista Networks by 2.8% in the second quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock valued at $1,135,380,000 after purchasing an additional 209,783 shares in the last quarter. Vanguard Group Inc. raised its stake in Arista Networks by 7.1% in the second quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock valued at $563,810,000 after purchasing an additional 249,753 shares in the last quarter. BlackRock Inc. raised its stake in Arista Networks by 41.1% in the second quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock valued at $356,048,000 after purchasing an additional 692,651 shares in the last quarter. State Street Corp raised its stake in Arista Networks by 44.7% in the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock valued at $159,278,000 after purchasing an additional 328,534 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Arista Networks by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 649,475 shares of the technology company’s stock valued at $123,136,000 after purchasing an additional 18,465 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.
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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.
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