Credit Suisse Group Raises Arista Networks (NYSE:ANET) Price Target to $185.00

Arista Networks (NYSE:ANET – Get Rating) had its price objective hoisted by Credit Suisse Group from $178.00 to $185.00 in a report issued on Tuesday, Benzinga reports. Credit Suisse Group currently has an outperform rating on the technology company’s stock.

A number of other equities analysts have also issued reports on ANET. UBS Group dropped their target price on shares of Arista Networks from $140.00 to $134.00 and set a neutral rating on the stock in a research report on Tuesday. Barclays reduced their price target on shares of Arista Networks from $138.00 to $131.00 and set an equal weight rating on the stock in a research report on Tuesday. Rosenblatt Securities boosted their price objective on Arista Networks from $140.00 to $155.00 and gave the stock a buy rating in a report on Tuesday. Oppenheimer reissued a market perform rating and set a $305.00 price objective on shares of Arista Networks in a report on Wednesday, May 4th. Finally, Piper Sandler upped their price target on Arista Networks from $108.00 to $125.00 and gave the company a neutral rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $157.53.

Arista Networks Stock Up 1.1 %

NYSE ANET opened at $123.06 on Tuesday. The stock has a market capitalization of $37.93 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35. The company has a 50 day moving average price of $101.50 and a two-hundred day moving average price of $114.69. Arista Networks has a 12-month low of $85.18 and a 12-month high of $148.57.

Arista Networks (NYSE:ANET – Get Rating) last posted its earnings results on Monday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $979.66 million. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The company’s revenue was up 48.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. As a group, equities analysts anticipate that Arista Networks will post 3.18 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Andreas Bechtolsheim sold 100,000 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $102.95, for a total transaction of $10,295,000.00. Following the completion of the sale, the insider now owns 46,520,000 shares of the company’s stock, valued at approximately $4,789,234,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, insider Andreas Bechtolsheim sold 100,000 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $102.95, for a total transaction of $10,295,000.00. Following the transaction, the insider now owns 46,520,000 shares in the company, valued at approximately $4,789,234,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 3,500 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $104.81, for a total value of $366,835.00. Following the transaction, the senior vice president now owns 272,100 shares in the company, valued at approximately $28,518,801. The disclosure for this sale can be found here. Insiders sold 530,320 shares of company stock valued at $54,800,753 in the last quarter. 19.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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