Arista Networks (ANET) Price Target Increased to $296.00 by Analysts at BMO Capital Markets

Arista Networks (NYSE:ANET) had its price objective lifted by stock analysts at BMO Capital Markets from $279.00 to $296.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 14.83% from the company’s current price.

ANET has been the subject of several other research reports. William Blair reissued an “outperform” rating on shares of Arista Networks in a report on Monday, September 17th. DA Davidson lifted their price objective on Arista Networks from $300.00 to $312.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Credit Suisse Group set a $311.00 price objective on Arista Networks and gave the stock a “buy” rating in a report on Thursday, October 4th. Goldman Sachs Group lowered Arista Networks from a “conviction-buy” rating to a “buy” rating in a report on Thursday, October 4th. Finally, Zacks Investment Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $303.00 price objective for the company in a report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Arista Networks has an average rating of “Buy” and a consensus target price of $292.20.

Shares of ANET opened at $257.77 on Friday. Arista Networks has a fifty-two week low of $192.75 and a fifty-two week high of $313.37. The stock has a market capitalization of $19.29 billion, a P/E ratio of 39.96, a PEG ratio of 1.88 and a beta of 1.56. The company has a quick ratio of 2.87, a current ratio of 3.17 and a debt-to-equity ratio of 0.02.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.21. Arista Networks had a return on equity of 29.91% and a net margin of 28.05%. The company had revenue of $563.31 million during the quarter, compared to analyst estimates of $548.81 million. During the same quarter last year, the firm posted $1.62 EPS. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. Sell-side analysts expect that Arista Networks will post 6.44 earnings per share for the current year.

In other news, Director Nikos Theodosopoulos sold 110 shares of Arista Networks stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $273.27, for a total transaction of $30,059.70. Following the completion of the sale, the director now owns 2,073 shares in the company, valued at approximately $566,488.71. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andreas Bechtolsheim sold 31,917 shares of Arista Networks stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $303.00, for a total value of $9,670,851.00. Following the sale, the insider now owns 4,144 shares of the company’s stock, valued at approximately $1,255,632. The disclosure for this sale can be found here. In the last quarter, insiders have sold 214,737 shares of company stock valued at $63,805,710. Corporate insiders own 24.95% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ANET. Renaissance Technologies LLC boosted its position in shares of Arista Networks by 26.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,093,700 shares of the technology company’s stock valued at $281,617,000 after acquiring an additional 227,500 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Arista Networks by 509.0% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 243,420 shares of the technology company’s stock valued at $62,678,000 after acquiring an additional 203,448 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Arista Networks by 51.5% during the 2nd quarter. Janus Henderson Group PLC now owns 424,339 shares of the technology company’s stock valued at $109,264,000 after acquiring an additional 144,273 shares during the last quarter. BlackRock Inc. boosted its position in shares of Arista Networks by 5.3% during the 2nd quarter. BlackRock Inc. now owns 2,805,544 shares of the technology company’s stock valued at $722,399,000 after acquiring an additional 140,468 shares during the last quarter. Finally, Ardevora Asset Management LLP boosted its position in shares of Arista Networks by 136,739.7% during the 2nd quarter. Ardevora Asset Management LLP now owns 99,893 shares of the technology company’s stock valued at $25,721,000 after acquiring an additional 99,820 shares during the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Analyst Recommendations for Arista Networks (NYSE:ANET)

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