Arista Networks (NYSE:ANET) Given New $145.00 Price Target at Evercore ISI

Arista Networks (NYSE:ANETGet Rating) had its price target lifted by Evercore ISI from $135.00 to $145.00 in a research note published on Tuesday, The Fly reports. Evercore ISI currently has an outperform rating on the technology company’s stock.

A number of other equities analysts also recently commented on ANET. Citigroup lifted their price objective on shares of Arista Networks from $160.00 to $170.00 and gave the stock a maintains rating in a report on Tuesday. Cowen raised their target price on Arista Networks from $154.00 to $163.00 and gave the company a maintains rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on Arista Networks from $150.00 to $160.00 and gave the company a maintains rating in a research note on Tuesday. Rosenblatt Securities lifted their price objective on shares of Arista Networks from $140.00 to $155.00 and gave the company a maintains rating in a research note on Tuesday. Finally, Piper Sandler lifted their price objective on shares of Arista Networks from $108.00 to $125.00 and gave the company a maintains rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $152.79.

Arista Networks Stock Down 0.4 %

Shares of NYSE:ANET opened at $117.14 on Tuesday. Arista Networks has a 52-week low of $85.18 and a 52-week high of $148.57. The company has a 50 day moving average of $100.69 and a two-hundred day moving average of $114.69. The company has a market capitalization of $36.11 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35.

Arista Networks (NYSE:ANETGet Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.30. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $979.66 million. During the same quarter last year, the company earned $0.56 earnings per share. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. On average, equities analysts anticipate that Arista Networks will post 3.16 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Ann Mather sold 1,668 shares of Arista Networks stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $113.40, for a total transaction of $189,151.20. Following the transaction, the director now owns 3,224 shares of the company’s stock, valued at approximately $365,601.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Ita M. Brennan sold 14,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $102.14, for a total transaction of $1,511,672.00. Following the transaction, the chief financial officer now owns 43,615 shares of the company’s stock, valued at $4,454,836.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 1,668 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $113.40, for a total transaction of $189,151.20. Following the completion of the sale, the director now directly owns 3,224 shares of the company’s stock, valued at $365,601.60. The disclosure for this sale can be found here. Insiders have sold a total of 523,272 shares of company stock valued at $53,973,592 in the last 90 days. 19.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ANET. BlackRock Inc. raised its holdings in shares of Arista Networks by 316.3% during the 4th quarter. BlackRock Inc. now owns 17,330,539 shares of the technology company’s stock valued at $2,491,267,000 after purchasing an additional 13,167,098 shares in the last quarter. State Street Corp raised its holdings in shares of Arista Networks by 316.7% during the 4th quarter. State Street Corp now owns 8,893,510 shares of the technology company’s stock valued at $1,278,442,000 after purchasing an additional 6,759,436 shares in the last quarter. Capital World Investors raised its holdings in shares of Arista Networks by 289.1% during the 4th quarter. Capital World Investors now owns 8,686,014 shares of the technology company’s stock valued at $1,248,615,000 after purchasing an additional 6,453,749 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Arista Networks by 303.5% during the 4th quarter. Alliancebernstein L.P. now owns 8,374,583 shares of the technology company’s stock valued at $1,203,846,000 after purchasing an additional 6,299,163 shares in the last quarter. Finally, Eaton Vance Management raised its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Eaton Vance Management now owns 4,681,386 shares of the technology company’s stock valued at $672,741,000 after purchasing an additional 3,511,113 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

Arista Networks Company Profile

(Get Rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

Read More

The Fly logo

Analyst Recommendations for Arista Networks (NYSE:ANET)

Want More Great Investing Ideas?

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.