William Blair Forecasts Higher Earnings for Arista Networks

Arista Networks, Inc. (NYSE:ANET) – Analysts at William Blair increased their FY2024 earnings per share estimates for Arista Networks in a research note issued to investors on Thursday, December 5th. William Blair analyst S. Naji now anticipates that the technology company will post earnings of $1.98 per share for the year, up from their previous estimate of $1.98. The consensus estimate for Arista Networks’ current full-year earnings is $1.96 per share. William Blair also issued estimates for Arista Networks’ Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.57 EPS.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share.

Several other research analysts have also commented on the stock. StockNews.com upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Citigroup increased their target price on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays reduced their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Arista Networks Stock Down 2.0 %

Shares of Arista Networks stock opened at $106.04 on Monday. The company has a market cap of $133.58 billion, a PE ratio of 50.98, a P/E/G ratio of 3.24 and a beta of 1.10. The business has a 50 day moving average of $100.27 and a 200 day moving average of $90.41. Arista Networks has a 52 week low of $55.67 and a 52 week high of $110.74.

Institutional Investors Weigh In On Arista Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GW Henssler & Associates Ltd. lifted its holdings in shares of Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after buying an additional 2,219 shares during the period. Deepwater Asset Management LLC bought a new position in Arista Networks in the second quarter valued at about $15,084,000. Sumitomo Life Insurance Co. boosted its position in Arista Networks by 69.8% in the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after purchasing an additional 3,711 shares during the last quarter. Walkner Condon Financial Advisors LLC bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $2,318,000. Finally, Greenleaf Trust increased its position in shares of Arista Networks by 20.1% during the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after purchasing an additional 2,216 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $95.63, for a total transaction of $765,040.00. Following the sale, the director now owns 187,784 shares of the company’s stock, valued at $17,957,783.92. This trade represents a 4.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $89.19, for a total transaction of $132,707.28. Following the transaction, the director now directly owns 10,260 shares of the company’s stock, valued at $915,038.10. The trade was a 12.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,676 shares of company stock worth $28,280,199. Corporate insiders own 3.54% 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.