Arista Networks (NYSE:ANET) Rating Increased to Buy at UBS Group

Arista Networks (NYSE:ANET) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $115.00 target price on the technology company’s stock, up from their prior target price of $112.00. UBS Group’s price objective would suggest a potential upside of 34.88% from the company’s current price.

Several other research analysts have also commented on the stock. The Goldman Sachs Group increased their price target on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities restated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Barclays upped their target price on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lifted their price target on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Down 0.9 %

NYSE ANET opened at $85.26 on Wednesday. The stock’s 50-day moving average price is $110.66 and its two-hundred day moving average price is $102.25. Arista Networks has a 1 year low of $60.08 and a 1 year high of $133.57. The company has a market cap of $107.53 billion, a PE ratio of 38.41, a PEG ratio of 3.10 and a beta of 1.09.

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

Insiders Place Their Bets

In related news, insider John F. Mccool sold 17,433 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the transaction, the insider now directly owns 17,433 shares in the company, valued at approximately $1,623,709.62. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 431,441 shares of company stock worth $45,713,162. Company insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Arista Networks by 8.7% during the third quarter. Janney Montgomery Scott LLC now owns 46,090 shares of the technology company’s stock worth $17,690,000 after buying an additional 3,706 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in Arista Networks by 57.1% in the third quarter. Catalyst Capital Advisors LLC now owns 2,160 shares of the technology company’s stock valued at $829,000 after buying an additional 785 shares in the last quarter. Moloney Securities Asset Management LLC bought a new position in Arista Networks in the third quarter valued at about $438,000. United Advisor Group LLC acquired a new stake in shares of Arista Networks during the third quarter valued at about $501,000. Finally, Beacon Financial Advisory LLC grew its holdings in shares of Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares during 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.