Barclays Boosts Arista Networks (NYSE:ANET) Price Target to $495.00

Arista Networks (NYSE:ANET) had its price target raised by Barclays from $341.00 to $495.00 in a report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

ANET has been the topic of several other research reports. UBS Group lifted their price target on shares of Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Evercore ISI lifted their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company raised their price objective on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $395.19.

Arista Networks Stock Down 0.8 %

Shares of ANET opened at $397.31 on Friday. The firm has a market cap of $124.81 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 3.52 and a beta of 1.08. The company’s fifty day moving average is $382.60 and its two-hundred day moving average is $345.46. Arista Networks has a fifty-two week low of $206.83 and a fifty-two week high of $431.97.

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

Arista Networks (NYSE:ANET) last issued its 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. Arista Networks had a net margin of 40.29% and a return on equity of 31.90%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Arista Networks will post 7.42 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,363,647.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,363,647.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $397.39, for a total transaction of $330,628.48. Following the sale, the chief executive officer now owns 17,681 shares in the company, valued at $7,026,252.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,346 shares of company stock valued at $30,021,432 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zions Bancorporation N.A. grew its position in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC grew its position in Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares in the last quarter. First Affirmative Financial Network grew its position in Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after acquiring an additional 28 shares in the last quarter. Altman Advisors Inc. grew its position in Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares in the last quarter. Finally, FCG Investment Co grew its position in Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after acquiring an additional 29 shares in the last quarter. 82.47% of the stock is currently owned by 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.