Arista Networks, Inc. (NYSE:ANET) Receives $113.79 Consensus Price Target from Brokerages

Arista Networks, Inc. (NYSE:ANET) has been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $114.00.

A number of analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Barclays raised their price objective on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Citigroup raised their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Arista Networks Trading Down 1.2 %

ANET stock opened at $83.31 on Tuesday. Arista Networks has a twelve month low of $60.08 and a twelve month high of $133.57. The company has a market capitalization of $105.07 billion, a P/E ratio of 37.53, a PEG ratio of 3.10 and a beta of 1.08. The firm has a 50 day simple moving average of $108.92 and a 200-day simple moving average of $102.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, research analysts predict that Arista Networks will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,289 shares of company stock worth $42,355,417 over the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ANET. Vanguard Group Inc. grew its holdings in Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. FMR LLC grew its holdings in Arista Networks by 330.9% during the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares during the period. Cresset Asset Management LLC grew its holdings in Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares during the period. Geode Capital Management LLC grew its holdings in Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

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.