Zacks: Analysts Expect Arista Networks, Inc. (ANET) to Announce $1.18 EPS
Analysts forecast that Arista Networks, Inc. (NYSE:ANET) will report earnings per share (EPS) of $1.18 for the current quarter, Zacks reports. Eight analysts have issued estimates for Arista Networks’ earnings, with estimates ranging from $0.96 to $1.33. Arista Networks reported earnings per share of $0.83 in the same quarter last year, which would suggest a positive year-over-year growth rate of 42.2%. The company is scheduled to issue its next earnings results on Thursday, November 2nd.
On average, analysts expect that Arista Networks will report full year earnings of $4.65 per share for the current year, with EPS estimates ranging from $3.85 to $5.06. For the next financial year, analysts forecast that the company will report earnings of $5.34 per share, with EPS estimates ranging from $4.45 to $6.15. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Arista Networks.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.15. The company had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The business’s quarterly revenue was up 50.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share.
A number of brokerages have issued reports on ANET. UBS AG upped their price objective on Arista Networks from $120.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, May 31st. Argus restated a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th. Jefferies Group LLC restated a “hold” rating and set a $145.00 price objective (up from $120.00) on shares of Arista Networks in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $165.00 price target (up from $145.00) on shares of Arista Networks in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co upgraded Arista Networks from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $144.00 to $186.00 in a report on Friday, August 4th. Sixteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $154.40.
In other news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $147.51, for a total value of $295,020.00. Following the completion of the sale, the senior vice president now owns 11,775 shares of the company’s stock, valued at approximately $1,736,930.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jayshree Ullal sold 34,157 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $147.35, for a total value of $5,033,033.95. Following the completion of the sale, the insider now directly owns 2,576 shares of the company’s stock, valued at approximately $379,573.60. The disclosure for this sale can be found here. Insiders have sold a total of 685,696 shares of company stock worth $113,607,458 in the last ninety days. Insiders own 28.09% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Achmea Investment Management B.V. acquired a new stake in Arista Networks during the second quarter worth $314,000. Navellier & Associates Inc boosted its stake in Arista Networks by 98.8% in the second quarter. Navellier & Associates Inc now owns 67,115 shares of the technology company’s stock worth $10,053,000 after buying an additional 33,355 shares during the last quarter. Advisory Services Network LLC boosted its stake in Arista Networks by 609.5% in the second quarter. Advisory Services Network LLC now owns 1,568 shares of the technology company’s stock worth $235,000 after buying an additional 1,347 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Arista Networks by 44.6% in the second quarter. Public Employees Retirement System of Ohio now owns 22,121 shares of the technology company’s stock worth $3,314,000 after buying an additional 6,823 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in Arista Networks during the second quarter worth $592,000. 59.36% of the stock is owned by hedge funds and other institutional investors.
Arista Networks (ANET) traded down 0.474% during mid-day trading on Friday, hitting $173.285. The stock had a trading volume of 326,181 shares. The firm has a market cap of $12.57 billion, a PE ratio of 44.719 and a beta of 1.33. The company’s 50 day moving average price is $160.91 and its 200 day moving average price is $142.28. Arista Networks has a 52 week low of $77.82 and a 52 week high of $176.88.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.