Arista Networks, Inc. (NYSE:ANET) Expected to Announce Earnings of $2.35 Per Share

Wall Street brokerages expect that Arista Networks, Inc. (NYSE:ANET) will announce earnings of $2.35 per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Arista Networks’ earnings. The highest EPS estimate is $2.45 and the lowest is $2.22. Arista Networks reported earnings of $2.02 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 16.3%. The company is scheduled to report its next earnings results on Tuesday, May 4th.

On average, analysts expect that Arista Networks will report full-year earnings of $10.00 per share for the current financial year, with EPS estimates ranging from $9.78 to $10.35. For the next year, analysts expect that the business will post earnings of $11.25 per share, with EPS estimates ranging from $10.71 to $12.70. Zacks’ EPS calculations are an average based on a survey of analysts that follow Arista Networks.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Wednesday, February 17th. The technology company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.10. Arista Networks had a return on equity of 20.37% and a net margin of 32.06%.

Several equities research analysts have recently issued reports on ANET shares. MKM Partners lifted their price objective on shares of Arista Networks from $273.00 to $324.00 in a research report on Thursday, January 28th. Smith Barney Citigroup upped their price objective on Arista Networks from $240.00 to $290.00 in a research report on Monday, December 21st. Cowen increased their price objective on Arista Networks from $272.00 to $365.00 and gave the company an “outperform” rating in a report on Friday. Credit Suisse Group upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $351.00 target price for the company in a research note on Wednesday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Arista Networks has an average rating of “Buy” and a consensus target price of $306.90.

Shares of ANET stock traded down $4.62 during trading on Tuesday, reaching $287.54. The company’s stock had a trading volume of 53,777 shares, compared to its average volume of 631,549. Arista Networks has a 1-year low of $156.63 and a 1-year high of $326.60. The stock’s 50-day moving average price is $311.81 and its 200 day moving average price is $257.62. The company has a market capitalization of $21.76 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 3.91 and a beta of 1.21.

In other news, SVP Kenneth Duda sold 3,250 shares of the firm’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $325.47, for a total value of $1,057,777.50. Following the completion of the sale, the senior vice president now owns 8,695 shares in the company, valued at approximately $2,829,961.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anshul Sadana sold 1,620 shares of Arista Networks stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $272.06, for a total transaction of $440,737.20. Following the completion of the sale, the chief operating officer now directly owns 4,183 shares in the company, valued at approximately $1,138,026.98. The disclosure for this sale can be found here. Insiders sold 272,349 shares of company stock valued at $77,723,894 over the last ninety days. Corporate insiders own 23.77% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Timucuan Asset Management Inc. FL purchased a new stake in Arista Networks in the 3rd quarter valued at approximately $65,386,000. Epoch Investment Partners Inc. boosted its stake in shares of Arista Networks by 43.0% in the third quarter. Epoch Investment Partners Inc. now owns 871,778 shares of the technology company’s stock valued at $180,397,000 after buying an additional 262,329 shares in the last quarter. BlackRock Inc. grew its holdings in Arista Networks by 5.6% during the fourth quarter. BlackRock Inc. now owns 4,459,732 shares of the technology company’s stock worth $1,295,865,000 after acquiring an additional 234,774 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in Arista Networks in the third quarter worth $34,987,000. Finally, Fiera Capital Corp acquired a new stake in Arista Networks in the fourth quarter valued at $44,797,000. Hedge funds and other institutional investors own 61.75% of the company’s stock.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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