Zacks: Analysts Anticipate Arista Networks Inc (NYSE:ANET) Will Announce Quarterly Sales of $652.93 Million

Wall Street brokerages predict that Arista Networks Inc (NYSE:ANET) will post sales of $652.93 million for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Arista Networks’ earnings, with the highest sales estimate coming in at $655.20 million and the lowest estimate coming in at $650.90 million. Arista Networks posted sales of $563.31 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.9%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Arista Networks will report full-year sales of $2.55 billion for the current year, with estimates ranging from $2.54 billion to $2.56 billion. For the next year, analysts expect that the firm will report sales of $2.94 billion, with estimates ranging from $2.76 billion to $3.01 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Arista Networks.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.46. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The company had revenue of $608.32 million for the quarter, compared to the consensus estimate of $606.78 million. During the same period in the previous year, the business earned $1.93 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis.

Several research firms recently issued reports on ANET. Zacks Investment Research upgraded Arista Networks from a “sell” rating to a “hold” rating and set a $284.00 price objective on the stock in a report on Monday, July 8th. Stifel Nicolaus decreased their price target on Arista Networks from $294.00 to $287.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Nomura raised their price target on Arista Networks from $275.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Needham & Company LLC decreased their price target on Arista Networks to $340.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Finally, Macquarie set a $325.00 price target on Arista Networks and gave the stock a “buy” rating in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $308.78.

In other Arista Networks news, COO Anshul Sadana sold 1,350 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $280.07, for a total value of $378,094.50. Following the completion of the transaction, the chief operating officer now owns 1,783 shares in the company, valued at approximately $499,364.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 10,876 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $224.30, for a total value of $2,439,486.80. Following the completion of the transaction, the senior vice president now owns 1,971 shares of the company’s stock, valued at approximately $442,095.30. The disclosure for this sale can be found here. Insiders sold a total of 211,193 shares of company stock valued at $53,515,604 in the last 90 days. Corporate insiders own 23.83% of the company’s stock.

Several hedge funds have recently bought and sold shares of ANET. Lenox Wealth Management Inc. bought a new stake in Arista Networks in the 1st quarter valued at about $26,000. Gradient Investments LLC bought a new position in Arista Networks in the second quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new position in Arista Networks in the second quarter worth approximately $41,000. Financial Management Professionals Inc. grew its stake in Arista Networks by 548.0% in the second quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock worth $42,000 after purchasing an additional 137 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in Arista Networks in the first quarter worth approximately $44,000. Institutional investors own 60.28% of the company’s stock.

ANET stock traded up $0.89 during trading on Monday, hitting $227.43. The stock had a trading volume of 17,963 shares, compared to its average volume of 1,037,865. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17. Arista Networks has a twelve month low of $187.08 and a twelve month high of $331.27. The stock has a market capitalization of $17.13 billion, a P/E ratio of 32.07, a PEG ratio of 1.35 and a beta of 1.58. The company’s 50-day moving average price is $256.21 and its two-hundred day moving average price is $270.61.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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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