Rosenblatt Securities Raises Arista Networks (NYSE:ANET) Price Target to $155.00

Arista Networks (NYSE:ANETGet Rating) had its price target lifted by Rosenblatt Securities from $140.00 to $155.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

ANET has been the subject of several other research reports. UBS Group decreased their price objective on Arista Networks from $140.00 to $134.00 and set a neutral rating for the company in a report on Tuesday. Barclays cut their price target on Arista Networks from $140.00 to $138.00 in a research note on Tuesday, May 3rd. StockNews.com upgraded Arista Networks from a hold rating to a buy rating in a research note on Wednesday. Oppenheimer restated a market perform rating and issued a $305.00 price target on shares of Arista Networks in a research note on Wednesday, May 4th. Finally, Piper Sandler cut their price target on Arista Networks from $133.00 to $108.00 and set a neutral rating for the company in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $157.53.

Arista Networks Stock Up 1.1 %

Shares of ANET stock opened at $123.06 on Tuesday. The stock has a market cap 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 business has a 50-day simple moving average of $101.50 and a 200-day simple moving average of $114.69. Arista Networks has a 52-week low of $85.18 and a 52-week high of $148.57.

Arista Networks (NYSE:ANETGet Rating) last issued its quarterly earnings data on Monday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $979.66 million. Arista Networks had a return on equity of 24.03% and a net margin of 29.55%. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. Sell-side analysts anticipate that Arista Networks will post 3.18 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 6,660 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $92.70, for a total transaction of $617,382.00. Following the transaction, the director now directly owns 105,606 shares in the company, valued at $9,789,676.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles H. Giancarlo sold 6,660 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $92.70, for a total value of $617,382.00. Following the transaction, the director now owns 105,606 shares of the company’s stock, valued at $9,789,676.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 560 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $98.50, for a total value of $55,160.00. Following the transaction, the director now directly owns 2,212 shares in the company, valued at approximately $217,882. The disclosure for this sale can be found here. Insiders have sold a total of 530,320 shares of company stock worth $54,800,753 in the last ninety days. Insiders own 19.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ANET. Park Avenue Securities LLC boosted its holdings in shares of Arista Networks by 9.6% in the 1st quarter. Park Avenue Securities LLC now owns 3,672 shares of the technology company’s stock valued at $510,000 after purchasing an additional 322 shares during the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Arista Networks by 296.5% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 35,533 shares of the technology company’s stock worth $5,108,000 after purchasing an additional 26,572 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Arista Networks by 527.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 51,825 shares of the technology company’s stock valued at $7,450,000 after buying an additional 43,563 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Arista Networks by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 29,939 shares of the technology company’s stock valued at $4,161,000 after buying an additional 319 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in Arista Networks by 287.9% in the 4th quarter. MetLife Investment Management LLC now owns 49,560 shares of the technology company’s stock worth $7,124,000 after purchasing an additional 36,783 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

About Arista Networks

(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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