Arista Networks (NYSE:ANET) Price Target Increased to $163.00 by Analysts at Cowen

Arista Networks (NYSE:ANET – Get Rating) had its price objective lifted by Cowen from $154.00 to $163.00 in a research report sent to investors on Tuesday, The Fly reports. They currently have a maintains rating on the technology company’s stock.

Several other brokerages also recently weighed in on ANET. JPMorgan Chase & Co. boosted their target price on Arista Networks from $150.00 to $160.00 and gave the stock a maintains rating in a research note on Tuesday. Cowen upped their target price on Arista Networks from $151.00 to $154.00 in a research note on Tuesday, May 3rd. Barclays lowered their target price on Arista Networks from $138.00 to $131.00 and set a maintains rating on the stock in a research note on Tuesday. Credit Suisse Group upped their price target on Arista Networks from $178.00 to $185.00 and gave the stock a maintains rating in a report on Tuesday. Finally, StockNews.com cut Arista Networks from a buy rating to a hold rating in a report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $152.79.

Arista Networks Stock Down 0.4 %

Shares of NYSE ANET opened at $117.14 on Tuesday. The business has a fifty day simple moving average of $100.69 and a two-hundred day simple moving average of $114.69. The firm has a market cap of $36.11 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35. Arista Networks has a twelve month low of $85.18 and a twelve month high of $148.57.

Arista Networks (NYSE:ANET – Get Rating) last issued its earnings results on Monday, August 1st. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $979.66 million. Arista Networks had a return on equity of 21.16% and a net margin of 29.54%. Arista Networks’s revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. On average, research analysts expect that Arista Networks will post 3.16 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $102.28, for a total transaction of $2,045,600.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $331,796.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $102.28, for a total value of $2,045,600.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $331,796.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marc Taxay sold 6,779 shares of Arista Networks 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 have sold a total of 523,272 shares of company stock valued at $53,973,592 over the last quarter. 19.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently added to or reduced their stakes in ANET. Vestmark Advisory Solutions Inc. boosted its stake in shares of Arista Networks by 3.5% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 2,729 shares of the technology company’s stock worth $379,000 after acquiring an additional 92 shares in the last quarter. RMR Wealth Builders boosted its stake in shares of Arista Networks by 3.7% during the 2nd quarter. RMR Wealth Builders now owns 2,589 shares of the technology company’s stock worth $243,000 after acquiring an additional 93 shares in the last quarter. Concentrum Wealth Management boosted its stake in shares of Arista Networks by 2.5% during the 1st quarter. Concentrum Wealth Management now owns 4,018 shares of the technology company’s stock worth $558,000 after acquiring an additional 98 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Arista Networks by 0.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the technology company’s stock worth $1,806,000 after acquiring an additional 100 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of Arista Networks by 2.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 4,620 shares of the technology company’s stock worth $643,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Arista Networks Company Profile

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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.