Arista Networks, Inc. (ANET) Stock Rating Reaffirmed by Needham & Company LLC
Arista Networks, Inc. (NYSE:ANET)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Friday, Marketbeat.com reports. They currently have a $217.00 target price on the technology company’s stock, up from their previous target price of $175.00. Needham & Company LLC’s target price suggests a potential upside of 7.70% from the company’s previous close. The analysts noted that the move was a valuation call.
ANET has been the subject of several other research reports. JMP Securities increased their price objective on Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a report on Thursday, October 26th. Deutsche Bank AG reiterated a “buy” rating and set a $210.00 price objective (up previously from $185.00) on shares of Arista Networks in a report on Monday, October 9th. BidaskClub upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Zacks Investment Research lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, BMO Capital Markets lowered Arista Networks from an “outperform” rating to a “market perform” rating and set a $190.00 price objective for the company. in a report on Thursday, September 28th. They noted that the move was a valuation call. Fifteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Arista Networks presently has a consensus rating of “Buy” and a consensus target price of $180.21.
Shares of Arista Networks (NYSE ANET) opened at $201.49 on Friday. Arista Networks has a twelve month low of $79.05 and a twelve month high of $202.15. The company has a current ratio of 3.19, a quick ratio of 2.60 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $14,729.05, a price-to-earnings ratio of 48.44, a PEG ratio of 2.56 and a beta of 1.31.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 26.23% and a net margin of 25.10%. The firm had revenue of $405.21 million during the quarter, compared to analyst estimates of $361.02 million. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue for the quarter was up 50.8% compared to the same quarter last year. sell-side analysts expect that Arista Networks will post 4.08 earnings per share for the current year.
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In related news, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $189.95, for a total value of $2,279,400.00. Following the sale, the insider now directly owns 86,788 shares in the company, valued at approximately $16,485,380.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 7,775 shares of Arista Networks stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $194.12, for a total value of $1,509,283.00. The disclosure for this sale can be found here. Insiders have sold a total of 49,789 shares of company stock worth $9,016,392 over the last 90 days. Insiders own 28.09% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its holdings in Arista Networks by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after buying an additional 30 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after buying an additional 126 shares during the last quarter. M&T Bank Corp boosted its holdings in Arista Networks by 6.4% in the 2nd quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock worth $347,000 after buying an additional 140 shares during the last quarter. First United Bank Trust boosted its holdings in Arista Networks by 2.5% in the 2nd quarter. First United Bank Trust now owns 6,510 shares of the technology company’s stock worth $975,000 after buying an additional 160 shares during the last quarter. Finally, Affinity Wealth Management boosted its holdings in shares of Arista Networks by 11.6% during the 2nd quarter. Affinity Wealth Management now owns 2,158 shares of the technology company’s stock worth $323,000 after purchasing an additional 224 shares during the last quarter. Institutional investors own 59.43% of the company’s stock.
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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