Arista Networks (NYSE:ANET) Stock Rating Upgraded by UBS Group

Arista Networks (NYSE:ANET) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $115.00 price objective on the technology company’s stock, up from their prior price objective of $112.00. UBS Group’s price objective indicates a potential upside of 36.37% from the company’s current price.

ANET has been the subject of a number of other research reports. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Citigroup raised their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their target price on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. 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 research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Stock Down 4.0 %

NYSE ANET opened at $84.33 on Wednesday. The stock has a market cap of $106.35 billion, a P/E ratio of 37.99, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks has a twelve month low of $60.08 and a twelve month high of $133.57. The company’s 50-day simple moving average is $109.52 and its 200 day simple moving average is $102.02.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Research analysts anticipate that Arista Networks will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the transaction, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,289 shares of company stock worth $42,355,417. 3.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arista Networks

Institutional investors and hedge funds have recently bought and sold shares of the company. Zions Bancorporation N.A. boosted its holdings in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after acquiring an additional 27 shares during the last quarter. Intellectus Partners LLC increased its holdings in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after acquiring an additional 27 shares in the last quarter. Altman Advisors Inc. increased its holdings in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares in the last quarter. Beacon Financial Advisory LLC lifted its holdings in shares of Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.