Arista Networks, Inc. (ANET) Given New $200.00 Price Target at Royal Bank Of Canada
Arista Networks, Inc. (NYSE:ANET) had its price target lifted by Royal Bank Of Canada from $190.00 to $200.00 in a report published on Friday. Royal Bank Of Canada currently has a sector perform rating on the technology company’s stock.
Several other research analysts have also recently weighed in on the company. BidaskClub upgraded Arista Networks from a buy rating to a strong-buy rating in a research report on Tuesday. Zacks Investment Research cut Arista Networks from a buy rating to a hold rating in a research report on Thursday, July 27th. Stifel Nicolaus reiterated a hold rating and set a $145.00 price target on shares of Arista Networks in a research report on Friday, July 21st. Wells Fargo & Company reiterated an outperform rating and set a $175.00 price target (up from $150.00) on shares of Arista Networks in a research report on Wednesday, July 12th. Finally, Morgan Stanley upgraded Arista Networks from an equal weight rating to an overweight rating and lifted their price target for the company from $125.00 to $210.00 in a research report on Wednesday, September 20th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. 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 mid-day trading on Friday, reaching $201.49. The company had a trading volume of 3,205,081 shares, compared to its average volume of 638,355. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.60 and a current ratio of 3.19. The stock has a market capitalization of $14,614.07, a PE ratio of 48.44, a P/E/G ratio of 2.56 and a beta of 1.31. Arista Networks has a 52 week low of $79.05 and a 52 week high of $202.15.
Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.15. The company had revenue of $405.21 million during the quarter, compared to analysts’ expectations of $361.02 million. Arista Networks had a return on equity of 26.23% and a net margin of 25.10%. Arista Networks’s quarterly revenue was up 50.8% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. research analysts anticipate that Arista Networks will post 4.08 EPS for the current year.
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In other news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $176.09, for a total value of $352,180.00. Following the transaction, the senior vice president now owns 13,002 shares of the company’s stock, valued at approximately $2,289,522.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 8,827 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $168.06, for a total value of $1,483,465.62. Following the completion of the transaction, the senior vice president now directly owns 1,202 shares in the company, valued at approximately $202,008.12. The disclosure for this sale can be found here. Insiders have sold 198,778 shares of company stock worth $34,901,741 in the last three months. 28.09% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after purchasing an additional 126 shares during the last quarter. LS Investment Advisors LLC acquired a new position in shares of Arista Networks in the 2nd quarter valued at $119,000. D.A. Davidson & CO. lifted its stake in shares of Arista Networks by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after purchasing an additional 30 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Arista Networks in the 1st quarter valued at $164,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Arista Networks in the 2nd quarter valued at $202,000. 59.38% of the stock is currently owned by institutional investors and hedge funds.
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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