Arista Networks (NYSE:ANET) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Arista Networks (NYSE:ANET) had its price objective boosted by equities researchers at The Goldman Sachs Group from $135.00 to $145.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 30.58% from the company’s previous close.

A number of other research firms have also recently commented on ANET. Piper Sandler reiterated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Wells Fargo & Company boosted their price objective on shares of 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 restated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI raised their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.46.

Arista Networks Stock Up 3.9 %

Arista Networks stock opened at $111.05 on Wednesday. The firm’s 50-day simple moving average is $113.95 and its 200 day simple moving average is $101.32. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57. The firm has a market capitalization of $139.89 billion, a PE ratio of 53.39, a P/E/G ratio of 2.87 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. On average, research analysts expect that Arista Networks will post 1.97 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 337,320 shares of company stock worth $37,946,706. 3.54% 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 the stock. Caitlin John LLC boosted its stake in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont grew its stake in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC increased its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.