Arista Networks (NYSE:ANET) Stock Price Up 1.1% – Should You Buy?

Arista Networks, Inc. (NYSE:ANET)’s stock price was up 1.1% during mid-day trading on Wednesday . The company traded as high as $110.45 and last traded at $107.70. Approximately 4,255,392 shares traded hands during trading, a decline of 51% from the average daily volume of 8,672,491 shares. The stock had previously closed at $106.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ANET shares. Evercore ISI lifted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Piper Sandler restated a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Citigroup raised their price target on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, UBS Group lifted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Performance

The firm’s 50-day moving average price is $111.07 and its two-hundred day moving average price is $98.44. The firm has a market capitalization of $135.86 billion, a price-to-earnings ratio of 52.02, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the business earned $0.41 EPS. The firm’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Activity

In other Arista Networks news, insider John F. Mccool sold 288 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 2,496 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $96.83, for a total transaction of $241,693.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 343,992 shares of company stock worth $37,634,420. Corporate insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors have recently modified their holdings of the stock. Anchor Investment Management LLC bought a new stake in shares of Arista Networks during the second quarter worth approximately $35,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks during the third quarter worth approximately $44,000. HM Payson & Co. increased its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC increased its stake in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares in the last quarter. Finally, ORG Partners LLC increased its stake in Arista Networks by 186.0% in the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after purchasing an additional 93 shares in the last quarter. 82.47% of the stock is 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.