BMO Capital Markets Boosts Arista Networks, Inc. (ANET) Price Target to $205.00
Arista Networks, Inc. (NYSE:ANET) had its price objective boosted by BMO Capital Markets from $190.00 to $205.00 in a research report sent to investors on Friday. They currently have a market perform rating on the technology company’s stock. The analysts noted that the move was a valuation call.
A number of other research firms have also recently issued reports on ANET. BidaskClub upgraded Arista Networks from a buy rating to a strong-buy rating in a report on Tuesday, October 31st. Deutsche Bank AG reiterated a buy rating and issued a $210.00 price objective (up from $185.00) on shares of Arista Networks in a report on Monday, October 9th. Berenberg Bank initiated coverage on Arista Networks in a report on Tuesday, September 26th. They issued a buy rating and a $225.00 price objective for the company. JMP Securities boosted their target price on Arista Networks from $185.00 to $230.00 and gave the company a market perform rating in a research note on Thursday, October 26th. Finally, KeyCorp reissued a buy rating and issued a $200.00 target price on shares of Arista Networks in a research note on Friday, September 29th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $180.21.
Arista Networks (NYSE ANET) traded up $2.55 during trading on Friday, reaching $204.04. The company had a trading volume of 197,388 shares, compared to its average volume of 762,498. Arista Networks has a twelve month low of $79.05 and a twelve month high of $202.15. 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 $14,729.05, a PE ratio of 48.44, a price-to-earnings-growth ratio of 2.56 and a beta of 1.31.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $361.02 million. During the same period in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 50.8% compared to the same quarter last year. equities research analysts predict that Arista Networks will post 4.08 EPS for the current year.
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In related news, SVP Marc Taxay sold 2,000 shares of the firm’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 directly owns 13,002 shares of the company’s stock, valued at approximately $2,289,522.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 86,788 shares in the company, valued at $16,485,380.60. 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 three months. Insiders own 28.09% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ANET. BlackRock Inc. raised its holdings in Arista Networks by 34,238.9% in the 1st quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock worth $222,784,000 after purchasing an additional 1,679,417 shares during the period. Harbour Capital Advisors LLC raised its holdings in Arista Networks by 13,502.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after purchasing an additional 1,219,248 shares during the period. Koch Industries Inc. bought a new position in Arista Networks in the 2nd quarter worth $592,000. State Street Corp raised its holdings in Arista Networks by 44.7% in the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 328,534 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Arista Networks by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after purchasing an additional 249,753 shares during the period. 59.43% of the stock is currently owned by institutional investors.
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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