Arista Networks, Inc. (NYSE:ANET) Receives $114.00 Average Price Target from Analysts

Arista Networks, Inc. (NYSE:ANET) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $114.00.

A number of research analysts have commented on the stock. Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th.

Arista Networks Stock Up 2.3 %

NYSE ANET opened at $80.31 on Friday. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.58. The business’s fifty day simple moving average is $96.46 and its 200-day simple moving average is $101.60. The firm has a market cap of $101.28 billion, a PE ratio of 36.18, a P/E/G ratio of 3.10 and a beta of 1.30.

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, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Research analysts expect that Arista Networks will post 2.2 EPS for the current year.

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares in the company, valued at approximately $13,157,209.52. The trade was a 5.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 483,001 shares of company stock worth $48,220,031. Corporate insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

Several hedge funds have recently made changes to their positions in ANET. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks during the fourth quarter worth approximately $242,000. GHE LLC increased its holdings in shares of Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC raised its position in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares during the last quarter. Unified Investment Management acquired a new stake in Arista Networks during the 4th quarter worth $630,000. Finally, Berkshire Capital Holdings Inc. grew its position in Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after purchasing an additional 55,430 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.