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


Share on StockTwits

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.

Further Reading: Diversification in Your Portfolio

Get a free copy of the Zacks research report on Arista Networks (ANET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.