Arista Networks (NYSE:ANET) Given New $125.00 Price Target at Barclays

Arista Networks (NYSE:ANET) had its price objective cut by investment analysts at Barclays from $495.00 to $125.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential upside of 18.51% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Citigroup increased their price target on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI increased their price target on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler restated a “neutral” rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Wells Fargo & Company increased their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.88.

Arista Networks Trading Up 1.8 %

NYSE ANET opened at $105.48 on Wednesday. The company has a market cap of $33.22 billion, a PE ratio of 12.68, a PEG ratio of 3.12 and a beta of 1.10. Arista Networks has a 12 month low of $53.12 and a 12 month high of $108.97. The stock has a 50 day moving average of $99.60 and a 200-day moving average of $89.73.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. As a group, sell-side analysts predict that Arista Networks will post 7.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 6,756 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $80.32, for a total value of $542,641.92. Following the sale, the senior vice president now directly owns 730,400 shares of the company’s stock, valued at $58,665,728. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 284,092 shares of company stock worth $29,919,134. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Hedge funds have recently made changes to their positions in the company. Beacon Capital Management LLC boosted its stake in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks in the second quarter worth approximately $27,000. Byrne Asset Management LLC acquired a new position in shares of Arista Networks in the second quarter worth approximately $33,000. Brown Lisle Cummings Inc. acquired a new position in shares of Arista Networks in the second quarter worth approximately $35,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Arista Networks in the second quarter worth approximately $35,000. 82.47% of the stock is owned by institutional investors and hedge funds.

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.