Arista Networks, Inc. (NYSE:ANET) Receives $275.59 Average Target Price from Analysts

Arista Networks, Inc. (NYSE:ANET) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $275.59.

Several equities analysts have commented on ANET shares. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. KeyCorp raised their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Monday, January 8th. Rosenblatt Securities reissued a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. Finally, Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th.

Arista Networks Stock Down 1.3 %

ANET stock opened at $259.42 on Friday. Arista Networks has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The firm’s 50-day simple moving average is $281.39 and its 200 day simple moving average is $244.06. The stock has a market cap of $81.10 billion, a PE ratio of 39.49, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company earned $1.25 EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Equities analysts forecast that Arista Networks will post 6.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Jayshree Ullal sold 8,002 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78. Following the completion of the sale, the chief executive officer now directly owns 74,764 shares of the company’s stock, valued at $19,991,145.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. Insiders sold a total of 342,415 shares of company stock worth $98,017,152 over the last ninety days. 18.99% of the stock is currently owned by company insiders.

Institutional Trading of Arista Networks

A number of hedge funds have recently made changes to their positions in ANET. Cibc World Market Inc. raised its position in Arista Networks by 135.9% during the first quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock valued at $4,729,000 after acquiring an additional 19,602 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Arista Networks by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock valued at $175,274,000 after acquiring an additional 19,738 shares in the last quarter. Prudential PLC bought a new position in Arista Networks during the first quarter valued at approximately $676,000. Sequoia Financial Advisors LLC bought a new position in Arista Networks during the first quarter valued at approximately $224,000. Finally, Vanguard Group Inc. raised its position in Arista Networks by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.