Arista Networks (NYSE:ANET) Given New $425.00 Price Target at Evercore ISI

Arista Networks (NYSE:ANET) had its target price boosted by Evercore ISI from $400.00 to $425.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the technology company’s stock.

A number of other equities research analysts have also commented on ANET. Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the company an overweight rating in a research report on Thursday, July 18th. UBS Group increased their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a neutral rating in a research report on Wednesday, September 4th. Bank of America boosted their price target on shares of Arista Networks from $320.00 to $380.00 and gave the stock a buy rating in a research report on Thursday, June 20th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $390.00 to $430.00 and gave the stock a buy rating in a research report on Tuesday, September 24th. Finally, Barclays boosted their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an overweight rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $364.81.

Arista Networks Price Performance

Arista Networks stock opened at $381.72 on Tuesday. The business has a 50 day moving average of $347.22 and a 200-day moving average of $322.12. Arista Networks has a 1 year low of $168.25 and a 1 year high of $395.82. The company has a market capitalization of $119.62 billion, a P/E ratio of 53.16, a P/E/G ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts anticipate that Arista Networks will post 7.38 EPS for the current year.

Insider Activity

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,202,550.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. Insiders sold a total of 54,157 shares of company stock worth $19,291,193 over the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobs & Co. CA raised its holdings in shares of Arista Networks by 17.7% in the third quarter. Jacobs & Co. CA now owns 1,662 shares of the technology company’s stock valued at $637,000 after purchasing an additional 250 shares during the last quarter. Centaurus Financial Inc. grew its position in Arista Networks by 46.5% in the 2nd quarter. Centaurus Financial Inc. now owns 2,053 shares of the technology company’s stock worth $720,000 after purchasing an additional 652 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in Arista Networks in the 2nd quarter valued at about $35,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Arista Networks by 5,154.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 44,614 shares of the technology company’s stock worth $15,636,000 after buying an additional 43,765 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Arista Networks in the 2nd quarter worth approximately $9,858,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.