Arista Networks (NYSE:ANET) Price Target Cut to $134.00 by Analysts at UBS Group

Arista Networks (NYSE:ANETGet Rating) had its price target decreased by UBS Group from $140.00 to $134.00 in a report published on Tuesday morning, MarketBeat.com reports. UBS Group currently has a neutral rating on the technology company’s stock.

ANET has been the subject of several other research reports. Needham & Company LLC raised their target price on Arista Networks from $128.00 to $140.00 and gave the company a maintains rating in a research note on Tuesday. Credit Suisse Group raised their target price on Arista Networks from $178.00 to $185.00 and gave the company a maintains rating in a research note on Tuesday. Cowen increased their price target on Arista Networks from $154.00 to $163.00 and gave the company an outperform rating in a research report on Tuesday. Barclays decreased their price target on Arista Networks from $138.00 to $131.00 and set a maintains rating for the company in a research report on Tuesday. Finally, Cowen increased their price target on Arista Networks from $154.00 to $163.00 and gave the company a maintains rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $152.79.

Arista Networks Stock Down 0.4 %

Shares of ANET stock opened at $117.14 on Tuesday. The stock has a 50-day simple moving average of $100.69 and a 200 day simple moving average of $114.69. Arista Networks has a fifty-two week low of $85.18 and a fifty-two week high of $148.57. The stock has a market capitalization of $36.11 billion, a P/E ratio of 40.12, a P/E/G ratio of 1.98 and a beta of 1.35.

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

Insider Transactions at Arista Networks

In other news, SVP Marc Taxay sold 6,779 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $102.32, for a total transaction of $693,627.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Andreas Bechtolsheim sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $102.95, for a total value of $10,295,000.00. Following the transaction, the insider now directly owns 46,520,000 shares of the company’s stock, valued at approximately $4,789,234,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 6,779 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $102.32, for a total value of $693,627.28. The disclosure for this sale can be found here. Insiders sold 523,272 shares of company stock valued at $53,973,592 in the last three months. Corporate insiders own 19.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ANET. Allspring Global Investments Holdings LLC bought a new position in shares of Arista Networks in the 4th quarter valued at approximately $2,634,000. Commonwealth Equity Services LLC raised its stake in shares of Arista Networks by 275.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,461 shares of the technology company’s stock valued at $5,385,000 after acquiring an additional 27,477 shares in the last quarter. Desjardins Global Asset Management Inc. acquired a new stake in Arista Networks in the 4th quarter valued at approximately $205,000. Vestmark Advisory Solutions Inc. grew its holdings in Arista Networks by 308.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,637 shares of the technology company’s stock valued at $379,000 after buying an additional 1,991 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in Arista Networks by 413.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 8,468 shares of the technology company’s stock valued at $1,217,000 after buying an additional 6,820 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

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.

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