Arista Networks (NYSE:ANET) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Arista Networks (NYSE:ANET) from a sell rating to a hold rating in a research report report published on Wednesday, ValuEngine reports.

ANET has been the topic of several other research reports. Credit Suisse Group lowered shares of Arista Networks from an outperform rating to a neutral rating and set a $144.00 target price on the stock. in a report on Friday, November 1st. Goldman Sachs Group lowered shares of Arista Networks from a conviction-buy rating to a buy rating and dropped their target price for the company from $290.00 to $245.00 in a report on Friday, November 1st. MKM Partners dropped their target price on shares of Arista Networks from $275.00 to $210.00 and set a neutral rating on the stock in a report on Friday, November 1st. Royal Bank of Canada set a $300.00 price objective on shares of Arista Networks and gave the company a buy rating in a report on Friday, July 19th. Finally, Barclays set a $210.00 price objective on shares of Arista Networks and gave the company a buy rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $229.72.

ANET stock traded down $1.83 during midday trading on Wednesday, hitting $192.61. The stock had a trading volume of 796,570 shares, compared to its average volume of 911,833. The firm has a market cap of $14.77 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.60. The company has a current ratio of 5.91, a quick ratio of 5.47 and a debt-to-equity ratio of 0.03. Arista Networks has a 1-year low of $173.31 and a 1-year high of $331.27. The business has a fifty day moving average price of $230.47 and a two-hundred day moving average price of $249.24.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.50. The business had revenue of $654.40 million for the quarter, compared to analyst estimates of $653.26 million. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. Arista Networks’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.11 earnings per share. On average, equities analysts anticipate that Arista Networks will post 8.54 EPS for the current year.

In related news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $181.52, for a total value of $363,040.00. Following the sale, the senior vice president now owns 11,396 shares in the company, valued at approximately $2,068,601.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 10,876 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $224.30, for a total transaction of $2,439,486.80. Following the completion of the sale, the senior vice president now owns 1,971 shares in the company, valued at approximately $442,095.30. The disclosure for this sale can be found here. Insiders sold a total of 39,986 shares of company stock worth $9,054,297 in the last 90 days. 23.83% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ANET. Strategic Blueprint LLC bought a new stake in Arista Networks in the 3rd quarter worth about $35,000. Meeder Asset Management Inc. grew its position in Arista Networks by 1,281.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock worth $36,000 after purchasing an additional 141 shares in the last quarter. Gradient Investments LLC bought a new stake in Arista Networks in the 2nd quarter worth about $37,000. Golden State Wealth Management LLC bought a new stake in Arista Networks in the 2nd quarter worth about $41,000. Finally, Financial Management Professionals Inc. grew its position in Arista Networks by 548.0% in the 2nd 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. Institutional investors own 58.95% of the company’s stock.

Arista Networks Company Profile

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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Analyst Recommendations for Arista Networks (NYSE:ANET)

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