Analysts Set Arista Networks, Inc. (NYSE:ANET) PT at $113.79

Shares of Arista Networks, Inc. (NYSE:ANET) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $114.00.

ANET has been the subject of several research reports. Evercore ISI boosted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Piper Sandler reissued a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 over the last three months. 3.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks during the fourth quarter worth $242,000. GHE LLC boosted its position in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the last quarter. Colonial River Investments LLC boosted its position in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the last quarter. Unified Investment Management bought a new position in shares of Arista Networks during the fourth quarter worth $630,000. Finally, Silver Oak Securities Incorporated lifted its position in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $77.53 on Tuesday. The stock has a market capitalization of $97.77 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks has a 52-week low of $60.08 and a 52-week high of $133.58. The company has a 50-day simple moving average of $108.24 and a two-hundred day simple moving average of $102.10.

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

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.