Arista Networks, Inc. (NYSE:ANET)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a note issued to investors on Monday.

Other analysts also recently issued research reports about the stock. Barclays PLC reaffirmed a “buy” rating and set a $161.00 price objective on shares of Arista Networks in a research report on Friday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $162.00 price objective (up previously from $150.00) on shares of Arista Networks in a research report on Friday, May 5th. CIBC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Arista Networks in a research report on Friday, May 5th. Oppenheimer Holdings, Inc. set a $160.00 price objective on shares of Arista Networks and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Deutsche Bank AG set a $156.00 price objective on shares of Arista Networks and gave the stock a “buy” rating in a research report on Saturday, May 27th. Sixteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Arista Networks currently has a consensus rating of “Buy” and a consensus price target of $153.32.

Shares of Arista Networks (NYSE:ANET) traded up 2.48% on Monday, reaching $169.80. 640,108 shares of the company were exchanged. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 43.82 and a beta of 1.33. Arista Networks has a 12 month low of $75.06 and a 12 month high of $176.50. The company’s 50-day moving average price is $155.27 and its 200 day moving average price is $136.66.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.95 by $0.15. The company had revenue of $405.21 million during the quarter, compared to the consensus estimate of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company’s quarterly revenue was up 50.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, equities research analysts expect that Arista Networks will post $4.68 EPS for the current year.

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In related news, insider Jayshree Ullal sold 59,186 shares of Arista Networks stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $147.68, for a total value of $8,740,588.48. Following the completion of the sale, the insider now owns 2,576 shares of the company’s stock, valued at approximately $380,423.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel Scheinman sold 833 shares of Arista Networks stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $151.68, for a total value of $126,349.44. Following the completion of the sale, the director now directly owns 52,500 shares of the company’s stock, valued at approximately $7,963,200. The disclosure for this sale can be found here. In the last three months, insiders sold 791,915 shares of company stock valued at $129,142,711. 28.09% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in Arista Networks by 20.5% in the second 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. LS Investment Advisors LLC bought a new position in Arista Networks during the second quarter worth $119,000. D.A. Davidson & CO. raised its position in Arista Networks by 3.2% in the second 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. SG Americas Securities LLC bought a new position in Arista Networks during the first quarter worth $164,000. Finally, Financial Architects Inc raised its position in Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock worth $166,000 after buying an additional 877 shares during the last quarter. 60.83% of the stock is 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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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