Arista Networks (ANET) Expected to Announce Quarterly Earnings on Tuesday

Arista Networks (NYSE:ANET) is projected to release its earnings data after the market closes on Tuesday, February 18th. Analysts expect Arista Networks to post earnings of $0.57 per share and revenue of $1.90 billion for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Arista Networks Stock Up 1.4 %

Shares of Arista Networks stock opened at $120.15 on Tuesday. Arista Networks has a 12-month low of $60.08 and a 12-month high of $133.57. The firm has a market capitalization of $151.36 billion, a PE ratio of 57.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock’s fifty day moving average is $113.21 and its 200-day moving average is $100.04.

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 335,832 shares of company stock worth $37,787,297. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ANET. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Barclays reduced their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Finally, Rosenblatt Securities lifted their price target on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Company Profile

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.