Brokerages Set Arista Networks, Inc. (NYSE:ANET) PT at $100.70

Arista Networks, Inc. (NYSE:ANET) has been given an average rating of “Moderate Buy” by the nineteen brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $100.70.

Several research analysts have issued reports on the stock. Barclays lowered their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Rosenblatt Securities increased their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Evercore ISI boosted their target price on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group increased their price target on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a report on Tuesday, September 24th.

Insider Activity

In related news, SVP Marc Taxay sold 2,496 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $97.09, for a total value of $242,342.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $98.67, for a total value of $7,893,800.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,280,374.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,476 shares of company stock valued at $36,841,998 over the last 90 days. Insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in shares of Arista Networks by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 339,556 shares of the technology company’s stock worth $130,328,000 after buying an additional 29,006 shares during the last quarter. Retirement Systems of Alabama grew its position in Arista Networks by 0.6% during the third quarter. Retirement Systems of Alabama now owns 56,320 shares of the technology company’s stock valued at $21,617,000 after acquiring an additional 329 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Arista Networks during the third quarter worth about $13,283,000. American Trust raised its holdings in shares of Arista Networks by 71.7% in the 3rd quarter. American Trust now owns 4,382 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 1,830 shares during the period. Finally, Old North State Trust LLC lifted its stake in shares of Arista Networks by 6.9% in the 3rd quarter. Old North State Trust LLC now owns 1,371 shares of the technology company’s stock valued at $526,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $114.65 on Thursday. The stock has a 50-day simple moving average of $102.96 and a 200-day simple moving average of $93.31. The company has a market capitalization of $144.43 billion, a P/E ratio of 55.12, a PEG ratio of 3.21 and a beta of 1.10. Arista Networks has a fifty-two week low of $56.65 and a fifty-two week high of $116.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. As a group, analysts forecast that Arista Networks will post 1.96 earnings per share for the current year.

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.