Analysts Set Arista Networks, Inc. (ANET) PT at $156.40

Arista Networks, Inc. (NYSE:ANET) has earned a consensus recommendation of “Buy” from the thirty-four brokerages that are currently covering the firm, Marketbeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $161.62.

A number of brokerages recently commented on ANET. UBS AG upped their price target on shares of Arista Networks from $120.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, May 31st. Argus restated a “buy” rating on shares of Arista Networks in a research note on Monday, August 7th. Jefferies Group LLC restated a “hold” rating and set a $145.00 price target (up from $120.00) on shares of Arista Networks in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and set a $165.00 price target (up from $145.00) on shares of Arista Networks in a research note on Wednesday, August 9th. Finally, J P Morgan Chase & Co upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and upped their price target for the company from $144.00 to $186.00 in a research note on Friday, August 4th.

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Shares of Arista Networks (ANET) traded down 0.67% on Friday, hitting $187.23. 605,808 shares of the stock traded hands. The stock has a 50 day moving average price of $171.12 and a 200-day moving average price of $150.29. Arista Networks has a 52 week low of $78.82 and a 52 week high of $188.85. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 48.32 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. The firm had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company’s quarterly revenue was up 50.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. On average, equities research analysts forecast that Arista Networks will post $4.70 EPS for the current year.

In related news, insider Ita M. Brennan sold 3,500 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $176.12, for a total transaction of $616,420.00. Following the transaction, the insider now owns 16,903 shares of the company’s stock, valued at approximately $2,976,956.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jayshree Ullal sold 55,221 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $160.22, for a total transaction of $8,847,508.62. Following the transaction, the insider now directly owns 2,576 shares in the company, valued at approximately $412,726.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 546,267 shares of company stock worth $92,242,034. 28.09% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ANET. PNC Financial Services Group Inc. grew its holdings in Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after acquiring an additional 126 shares during the last quarter. LS Investment Advisors LLC bought a new stake in Arista Networks in the 2nd quarter worth $119,000. D.A. Davidson & CO. grew its holdings in Arista Networks by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after acquiring an additional 30 shares during the last quarter. SG Americas Securities LLC bought a new stake in Arista Networks in the 1st quarter worth $164,000. Finally, Daiwa Securities Group Inc. bought a new stake in Arista Networks in the 2nd quarter worth $202,000. 59.34% of the stock is currently owned by institutional investors.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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