Arista Networks, Inc. (NYSE:ANET) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Arista Networks, Inc. (NYSE:ANET) have received an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $395.19.

ANET has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Rosenblatt Securities raised their price target on shares of Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Citigroup upped their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays raised their target price on Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $406.48 on Friday. The stock has a market cap of $128.02 billion, a PE ratio of 48.86, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. The firm has a fifty day moving average price of $393.20 and a 200 day moving average price of $353.50. Arista Networks has a 1 year low of $210.69 and a 1 year high of $431.97.

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

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. As a group, equities analysts expect that Arista Networks will post 7.75 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $337.23, for a total value of $280,575.36. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,962,563.63. This trade represents a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marc Taxay sold 4,497 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $336.32, for a total value of $1,512,431.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,019 shares of company stock worth $22,819,548. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several hedge funds have recently made changes to their positions in the company. Beacon Capital Management LLC lifted its stake in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in Arista Networks during the 2nd quarter worth approximately $27,000. Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter worth about $33,000. Sugarloaf Wealth Management LLC purchased a new stake in shares of Arista Networks during the second quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Arista Networks in the second quarter worth approximately $35,000. 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.