Arista Networks (NYSE:ANET) Given New $118.00 Price Target at Morgan Stanley

Arista Networks (NYSE:ANET) had its target price boosted by Morgan Stanley from $102.50 to $118.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also recently weighed in on the company. Evercore ISI lifted their price objective on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Barclays lowered their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Citigroup upped their price target on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on shares of Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.70.

Arista Networks Trading Up 0.9 %

Shares of NYSE ANET opened at $109.07 on Tuesday. Arista Networks has a 12-month low of $56.65 and a 12-month high of $116.94. The firm has a market capitalization of $137.40 billion, a price-to-earnings ratio of 52.44, a price-to-earnings-growth ratio of 3.21 and a beta of 1.10. The firm has a 50 day moving average of $102.00 and a 200 day moving average of $92.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. Sell-side analysts predict that Arista Networks will post 1.96 EPS for the current year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,476 shares of company stock worth $36,841,998. 3.54% of the stock is currently owned by insiders.

Institutional Trading of Arista Networks

A number of institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its holdings in shares of Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares during the last quarter. International Assets Investment Management LLC raised its position in Arista Networks by 39,841.1% in the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares during the period. 1832 Asset Management L.P. lifted its stake in Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Arista Networks by 22.7% during the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after buying an additional 492,615 shares during the period. Finally, State Street Corp grew its stake in shares of Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after buying an additional 411,109 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.