Brokerages expect Arista Networks Inc (NYSE:ANET) to report sales of $652.93 million for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Arista Networks’ earnings, with the highest sales estimate coming in at $655.20 million and the lowest estimate coming in at $650.90 million. Arista Networks reported sales of $563.31 million in the same quarter last year, which suggests a positive year over year growth rate of 15.9%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that Arista Networks will report full-year sales of $2.55 billion for the current year, with estimates ranging from $2.54 billion to $2.56 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.94 billion, with estimates ranging from $2.76 billion to $3.01 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Arista Networks.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, August 1st. The technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.46. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The firm had revenue of $608.32 million for the quarter, compared to analysts’ expectations of $606.78 million. During the same period in the previous year, the firm posted $1.93 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year.

Several brokerages have recently issued reports on ANET. JMP Securities reaffirmed an “outperform” rating and issued a $280.00 target price (down from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $330.00 target price (down from $340.00) on shares of Arista Networks in a report on Friday, June 7th. Barclays assumed coverage on Arista Networks in a report on Wednesday, August 7th. They issued an “overweight” rating and a $284.00 target price on the stock. Morgan Stanley dropped their price target on Arista Networks from $300.00 to $275.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Finally, Needham & Company LLC dropped their price target on Arista Networks to $340.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Arista Networks presently has an average rating of “Buy” and a consensus price target of $303.00.

Shares of ANET stock traded down $2.33 during trading hours on Tuesday, hitting $247.61. The stock had a trading volume of 19,910 shares, compared to its average volume of 632,198. Arista Networks has a one year low of $187.08 and a one year high of $331.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17. The stock’s 50-day moving average price is $236.71 and its two-hundred day moving average price is $269.15. The stock has a market capitalization of $18.91 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.44 and a beta of 1.55.

In other Arista Networks news, SVP Kenneth Duda sold 10,876 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $224.30, for a total transaction of $2,439,486.80. Following the completion of the transaction, the senior vice president now owns 1,971 shares in the company, valued at $442,095.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anshul Sadana sold 1,350 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $280.07, for a total value of $378,094.50. Following the transaction, the chief operating officer now owns 1,783 shares of the company’s stock, valued at approximately $499,364.81. The disclosure for this sale can be found here. Insiders have sold 49,810 shares of company stock valued at $12,538,880 in the last 90 days. Company insiders own 23.83% of the company’s stock.

Several large investors have recently made changes to their positions in ANET. Nuveen Asset Management LLC boosted its position in shares of Arista Networks by 65,325.6% during the second quarter. Nuveen Asset Management LLC now owns 817,820 shares of the technology company’s stock valued at $212,322,000 after buying an additional 816,570 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of Arista Networks in the first quarter valued at approximately $132,213,000. First Trust Advisors LP boosted its holdings in shares of Arista Networks by 53.1% in the second quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock valued at $296,967,000 after purchasing an additional 396,782 shares during the period. FMR LLC boosted its holdings in shares of Arista Networks by 25.1% in the first quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock valued at $615,319,000 after purchasing an additional 392,021 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Arista Networks by 147.5% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 460,100 shares of the technology company’s stock valued at $119,451,000 after purchasing an additional 274,175 shares during the period. Institutional investors and hedge funds own 58.78% 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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