Arista Networks (NYSE: ANET) has recently received a number of price target changes and ratings updates:
- 6/27/2024 – Arista Networks had its price target raised by analysts at Citigroup Inc. from $330.00 to $385.00. They now have a “buy” rating on the stock.
- 6/20/2024 – Arista Networks had its price target raised by analysts at Bank of America Co. from $320.00 to $380.00. They now have a “buy” rating on the stock.
- 6/14/2024 – Arista Networks had its “buy” rating reaffirmed by analysts at Erste Group Bank AG.
- 6/12/2024 – Arista Networks had its price target raised by analysts at Morgan Stanley from $300.00 to $325.00. They now have an “overweight” rating on the stock.
- 5/20/2024 – Arista Networks had its price target raised by analysts at Evercore ISI from $320.00 to $340.00. They now have an “outperform” rating on the stock.
- 5/9/2024 – Arista Networks had its price target raised by analysts at Barclays PLC from $311.00 to $320.00. They now have an “overweight” rating on the stock.
- 5/8/2024 – Arista Networks had its price target raised by analysts at KeyCorp from $306.00 to $349.00. They now have an “overweight” rating on the stock.
- 5/8/2024 – Arista Networks had its price target raised by analysts at Wells Fargo & Company from $310.00 to $340.00. They now have an “overweight” rating on the stock.
- 5/8/2024 – Arista Networks had its price target raised by analysts at Piper Sandler from $268.00 to $302.00. They now have a “neutral” rating on the stock.
- 5/8/2024 – Arista Networks had its price target raised by analysts at UBS Group AG from $275.00 to $285.00. They now have a “neutral” rating on the stock.
- 5/8/2024 – Arista Networks had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $320.00 price target on the stock.
- 5/3/2024 – Arista Networks was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating. They now have a $320.00 price target on the stock, up previously from $240.00.
Arista Networks Stock Up 1.8 %
Shares of ANET stock traded up $6.22 on Monday, reaching $356.70. The company’s stock had a trading volume of 1,616,093 shares, compared to its average volume of 2,516,429. Arista Networks, Inc. has a 12-month low of $149.10 and a 12-month high of $357.57. The company has a market capitalization of $111.78 billion, a P/E ratio of 49.68, a PEG ratio of 3.09 and a beta of 1.11. The stock’s 50 day simple moving average is $303.42 and its 200-day simple moving average is $279.70.
Arista Networks (NYSE:ANET – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. Research analysts expect that Arista Networks, Inc. will post 7.05 EPS for the current year.
Insider Buying and Selling
Institutional Investors Weigh In On Arista Networks
Hedge funds have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. bought a new position in Arista Networks in the 1st quarter worth $26,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the period. Atticus Wealth Management LLC boosted its holdings in Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares during the period. Rakuten Securities Inc. bought a new position in Arista Networks in the 4th quarter worth $35,000. Finally, Sandy Spring Bank boosted its holdings in Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after buying an additional 39 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.
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.
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