Weekly Research Analysts’ Ratings Changes for Arista Networks (ANET)

Several brokerages have updated their recommendations and price targets on shares of Arista Networks (NYSE: ANET) in the last few weeks:

• 11/10/2023 – Arista Networks had its price target raised by analysts at Piper Sandler from $190.00 to $209.00. They now have a “neutral” rating on the stock.
• 11/10/2023 – Arista Networks had its price target raised by analysts at Needham & Company LLC from $215.00 to $235.00. They now have a “buy” rating on the stock.
• 11/10/2023 – Arista Networks had its price target raised by analysts at The Goldman Sachs Group, Inc. from $223.00 to $248.00. They now have a “buy” rating on the stock.
• 10/31/2023 – Arista Networks had its price target raised by analysts at KeyCorp from $217.00 to $232.00. They now have an “overweight” rating on the stock.
• 10/31/2023 – Arista Networks was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $220.00 price target on the stock, up previously from $185.00.
• 10/31/2023 – Arista Networks had its “outperform” rating reaffirmed by analysts at William Blair.
• 10/31/2023 – Arista Networks had its price target raised by analysts at JMP Securities from $200.00 to $215.00. They now have a “market outperform” rating on the stock.
• 10/31/2023 – Arista Networks had its price target raised by analysts at Needham & Company LLC from $210.00 to $215.00. They now have a “buy” rating on the stock.
• 10/11/2023 – Arista Networks was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $190.00 price target on the stock.
• 10/5/2023 – Arista Networks is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Arista Networks Stock Performance

Arista Networks stock traded up $0.71 during midday trading on Monday, hitting $215.34. 1,098,935 shares of the company’s stock were exchanged, compared to its average volume of 2,742,537. The stock has a 50-day moving average price of $193.50 and a two-hundred day moving average price of $175.59. Arista Networks, Inc. has a 52-week low of $107.57 and a 52-week high of $218.36. The company has a market cap of $66.99 billion, a P/E ratio of 35.89, a PEG ratio of 1.87 and a beta of 1.12.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, October 30th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.22. Arista Networks had a return on equity of 31.16% and a net margin of 33.97%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 5.77 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $217.00, for a total transaction of $4,340,000.00. Following the completion of the transaction, the chief executive officer now owns 1,723,500 shares of the company’s stock, valued at approximately $373,999,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jayshree Ullal sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $217.00, for a total value of $4,340,000.00. Following the completion of the transaction, the chief executive officer now owns 1,723,500 shares of the company’s stock, valued at approximately $373,999,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 284 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $212.36, for a total value of $60,310.24. Following the completion of the transaction, the director now directly owns 2,459 shares of the company’s stock, valued at approximately $522,193.24. The disclosure for this sale can be found here. Insiders sold 177,264 shares of company stock valued at $35,548,692 in the last 90 days. Insiders own 18.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RFP Financial Group LLC increased its position in Arista Networks by 169.2% during the 2nd quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock valued at $28,000 after buying an additional 110 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Arista Networks during the 3rd quarter valued at $28,000. First Command Advisory Services Inc. purchased a new stake in Arista Networks during the 3rd quarter valued at $29,000. Hollencrest Capital Management purchased a new stake in Arista Networks during the 1st quarter valued at $30,000. Finally, TFC Financial Management Inc. boosted its stake in Arista Networks by 131.0% during the 1st quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock valued at $33,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 67.13% of the company’s stock.

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.