Barclays Lowers Arista Networks (NYSE:ANET) Price Target to $125.00

Arista Networks (NYSE:ANET) had its price objective reduced by analysts at Barclays from $495.00 to $125.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 17.02% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Rosenblatt Securities boosted their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Citigroup increased their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Evercore ISI increased their price target on shares of Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, UBS Group boosted their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $98.88.

Arista Networks Trading Up 1.3 %

Shares of ANET opened at $106.82 on Wednesday. The company’s fifty day simple moving average is $99.81 and its 200 day simple moving average is $89.84. Arista Networks has a 1-year low of $53.12 and a 1-year high of $108.97. The company has a market cap of $33.64 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 3.12 and a beta of 1.10.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm earned $0.41 EPS. Arista Networks’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, research analysts forecast that Arista Networks will post 7.79 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $95.63, for a total transaction of $765,040.00. Following the sale, the director now directly owns 187,784 shares of the company’s stock, valued at approximately $17,957,783.92. The trade was a 4.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 2,496 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $97.09, for a total transaction of $242,342.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,676 shares of company stock worth $28,280,199. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Beacon Capital Management LLC boosted its stake in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new position in Arista Networks in the 2nd quarter valued at approximately $27,000. Byrne Asset Management LLC acquired a new stake in Arista Networks during the 2nd quarter worth approximately $33,000. Brown Lisle Cummings Inc. acquired a new position in Arista Networks in the 2nd quarter valued at approximately $35,000. Finally, Anchor Investment Management LLC bought a new position in shares of Arista Networks during the second quarter valued at $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Company Profile

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.