Arista Networks (ANET) – Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Arista Networks (NYSE: ANET) in the last few weeks:

• 11/8/2024 – Arista Networks had its price target raised by analysts at Rosenblatt Securities from $265.00 to $320.00. They now have a “sell” rating on the stock.
• 11/8/2024 – Arista Networks had its price target raised by analysts at Barclays PLC from $341.00 to $495.00. They now have an “overweight” rating on the stock.
• 11/8/2024 – Arista Networks had its price target raised by analysts at UBS Group AG from $369.00 to $425.00. They now have a “neutral” rating on the stock.
• 11/8/2024 – Arista Networks had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $421.00 price target on the stock, up previously from $345.00.
• 10/30/2024 – Arista Networks had its price target raised by analysts at Wells Fargo & Company from $390.00 to $460.00. They now have an “overweight” rating on the stock.
• 10/8/2024 – Arista Networks had its price target raised by analysts at Citigroup Inc. from $385.00 to $460.00. They now have a “buy” rating on the stock.
• 10/1/2024 – Arista Networks had its price target raised by analysts at Evercore ISI from $400.00 to $425.00. They now have an “outperform” rating on the stock.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $8.61 during trading on Tuesday, reaching $408.33. 2,118,482 shares of the company traded hands, compared to its average volume of 2,239,429. The company has a 50 day moving average price of $394.02 and a 200-day moving average price of $354.66. Arista Networks, Inc. has a 1-year low of $210.69 and a 1-year high of $431.97. The firm has a market capitalization of $128.60 billion, a PE ratio of 49.08, a P/E/G ratio of 3.28 and a beta of 1.08.

Shares of Arista Networks are set to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company 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%. Arista Networks’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the business posted $1.63 earnings per share. Equities research analysts expect that Arista Networks, Inc. will post 7.75 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Marc Taxay sold 4,497 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $336.32, for a total transaction of $1,512,431.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 1,689 shares of Arista Networks stock in a transaction on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the sale, the senior vice president now directly owns 182,600 shares of the company’s stock, valued at $58,665,728. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,771 shares of company stock valued at $29,995,584. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Beacon Capital Management LLC lifted its stake in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the period. LGT Financial Advisors LLC bought a new position in Arista Networks in the second quarter worth about $27,000. Byrne Asset Management LLC purchased a new stake in Arista Networks in the second quarter worth about $33,000. Sugarloaf Wealth Management LLC bought a new stake in Arista Networks during the 2nd quarter valued at approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Arista Networks during the 2nd quarter worth approximately $35,000. Institutional investors own 82.47% of the company’s stock.

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.