Arista Networks, Inc. (ANET) Given New $185.00 Price Target at Nomura
Arista Networks, Inc. (NYSE:ANET) had its price target raised by Nomura from $173.00 to $185.00 in a report published on Friday. The brokerage currently has a neutral rating on the technology company’s stock.
A number of other equities research analysts also recently weighed in on ANET. Wells Fargo & Company reissued an outperform rating and issued a $175.00 price target (up from $150.00) on shares of Arista Networks in a report on Wednesday, July 12th. Jefferies Group LLC reissued a hold rating and issued a $120.00 price target on shares of Arista Networks in a report on Friday, July 14th. Deutsche Bank AG reissued a buy rating and issued a $165.00 price target (up from $156.00) on shares of Arista Networks in a report on Monday, July 17th. Stifel Nicolaus reissued a hold rating and issued a $145.00 price target on shares of Arista Networks in a report on Friday, July 21st. Finally, BidaskClub downgraded shares of Arista Networks from a buy rating to a hold rating in a report on Tuesday, July 25th. Fifteen investment 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. The company has an average rating of Buy and an average target price of $180.21.
Shares of Arista Networks (NYSE:ANET) traded up $4.23 during midday trading on Friday, reaching $201.49. 3,205,081 shares of the company’s stock were exchanged, compared to its average volume of 638,355. Arista Networks has a 52 week low of $79.05 and a 52 week high of $202.15. The company has a quick ratio of 2.60, a current ratio of 3.19 and a debt-to-equity ratio of 0.03. The firm has a market cap of $14,614.07, a P/E ratio of 48.44, a price-to-earnings-growth ratio of 2.56 and a beta of 1.31.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 25.10% and a return on equity of 26.23%. The company had revenue of $405.21 million during the quarter, compared to the consensus estimate of $361.02 million. During the same period in the prior year, the company earned $0.74 EPS. Arista Networks’s revenue was up 50.8% on a year-over-year basis. sell-side analysts anticipate that Arista Networks will post 4.08 EPS for the current year.
In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $190.47, for a total transaction of $380,940.00. Following the completion of the sale, the senior vice president now owns 13,002 shares of the company’s stock, valued at $2,476,490.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 8,827 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $168.06, for a total value of $1,483,465.62. Following the sale, the senior vice president now directly owns 1,202 shares of the company’s stock, valued at approximately $202,008.12. The disclosure for this sale can be found here. Insiders sold 198,778 shares of company stock worth $34,901,741 in the last 90 days. 28.09% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in ANET. PNC Financial Services Group Inc. boosted its position in Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the period. LS Investment Advisors LLC bought a new stake in Arista Networks during the second quarter worth approximately $119,000. D.A. Davidson & CO. boosted its position in Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after purchasing an additional 30 shares during the period. SG Americas Securities LLC bought a new stake in Arista Networks during the first quarter worth approximately $164,000. Finally, Daiwa Securities Group Inc. bought a new stake in Arista Networks during the second quarter worth approximately $202,000. 59.38% 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.
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