Arista Networks (NYSE:ANET) Stock Rating Upgraded by Rosenblatt Securities

Arista Networks (NYSE:ANET) was upgraded by investment analysts at Rosenblatt Securities from a “sell” rating to a “neutral” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a $85.00 price target on the technology company’s stock. Rosenblatt Securities’ price objective points to a potential upside of 8.52% from the stock’s current price.

A number of other research firms also recently commented on ANET. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC restated a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Citigroup reduced their price objective on Arista Networks from $121.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. lowered their target price on Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.43.

Arista Networks Stock Performance

ANET stock opened at $78.33 on Tuesday. The company has a fifty day moving average of $80.06 and a 200-day moving average of $98.13. The stock has a market capitalization of $98.35 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks has a one year low of $59.43 and a one year high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities analysts forecast that Arista Networks will post 2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares of the company’s stock, valued at approximately $512,305.20. This trade represents a 16.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 412,355 shares of company stock valued at $39,446,799. 3.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds have recently modified their holdings of ANET. Silver Oak Securities Incorporated lifted its stake in Arista Networks by 4.5% in the 1st quarter. Silver Oak Securities Incorporated now owns 19,424 shares of the technology company’s stock worth $1,514,000 after purchasing an additional 831 shares in the last quarter. Calamos Advisors LLC grew its holdings in Arista Networks by 1.1% during the 1st quarter. Calamos Advisors LLC now owns 172,169 shares of the technology company’s stock valued at $13,340,000 after purchasing an additional 1,917 shares during the last quarter. Conning Inc. grew its stake in Arista Networks by 17.9% in the 1st quarter. Conning Inc. now owns 6,825 shares of the technology company’s stock worth $529,000 after acquiring an additional 1,036 shares in the last quarter. Goelzer Investment Management Inc. grew its stake in Arista Networks by 1.0% in the 1st quarter. Goelzer Investment Management Inc. now owns 49,140 shares of the technology company’s stock worth $3,807,000 after acquiring an additional 503 shares in the last quarter. Finally, TKG Advisors LLC grew its stake in Arista Networks by 111.1% in the 1st quarter. TKG Advisors LLC now owns 5,348 shares of the technology company’s stock worth $414,000 after acquiring an additional 2,815 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

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.