Evercore ISI Raises Arista Networks (NYSE:ANET) Price Target to $130.00

Arista Networks (NYSE:ANET) had its price objective increased by research analysts at Evercore ISI from $110.00 to $130.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price target points to a potential upside of 8.32% from the stock’s current price.

Several other research firms have also commented on ANET. Citigroup lifted their price target on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Rosenblatt Securities lifted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price objective on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, UBS Group lifted their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $104.00.

Arista Networks Trading Up 1.6 %

Shares of NYSE ANET opened at $120.02 on Friday. The stock has a market cap of $151.19 billion, a PE ratio of 57.66, a P/E/G ratio of 3.09 and a beta of 1.08. Arista Networks has a 12-month low of $60.08 and a 12-month high of $120.28. The company has a 50-day moving average of $107.24 and a 200 day moving average of $96.59.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business earned $0.41 earnings per share. The business’s revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts forecast that Arista Networks will post 1.97 EPS for the current fiscal year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $98.30, for a total value of $786,360.00. Following the completion of the transaction, the director now owns 179,784 shares in the company, valued at $17,671,868.28. The trade was a 4.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,316 shares of company stock worth $37,761,976. Corporate insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

Several large investors have recently bought and sold shares of ANET. Cranbrook Wealth Management LLC increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Arista Networks in the second quarter valued at approximately $35,000. Armstrong Advisory Group Inc. raised its holdings in Arista Networks by 300.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 372 shares of the technology company’s stock worth $41,000 after purchasing an additional 279 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Arista Networks during the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.