Arista Networks Inc. (ANET) Given Buy Rating at Deutsche Bank AG
Deutsche Bank AG reissued their buy rating on shares of Arista Networks Inc. (NYSE:ANET) in a research note published on Monday morning. They currently have a $85.00 target price on the stock, down from their previous target price of $105.00.
Other analysts also recently issued research reports about the stock. BMO Capital Markets began coverage on shares of Arista Networks in a report on Thursday, August 18th. They issued an outperform rating and a $90.00 target price for the company. Needham & Company LLC reiterated a buy rating and issued a $105.00 target price on shares of Arista Networks in a report on Monday, August 8th. Zacks Investment Research upgraded shares of Arista Networks from a hold rating to a strong-buy rating and set a $99.00 target price for the company in a report on Tuesday, November 8th. JPMorgan Chase & Co. reiterated a hold rating and issued a $67.00 target price on shares of Arista Networks in a report on Friday, August 5th. Finally, Barclays PLC reiterated a buy rating and issued a $89.00 target price on shares of Arista Networks in a report on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Arista Networks has an average rating of Buy and a consensus price target of $90.14.
Shares of Arista Networks (NYSE:ANET) opened at 95.97 on Monday. The company has a market cap of $6.74 billion, a P/E ratio of 41.51 and a beta of 1.12. Arista Networks has a 12-month low of $52.51 and a 12-month high of $96.06. The firm has a 50-day moving average of $85.87 and a 200-day moving average of $77.68.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.10. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The firm had revenue of $290.26 million for the quarter, compared to the consensus estimate of $283.33 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s revenue was up 33.4% on a year-over-year basis. Analysts predict that Arista Networks will post $3.08 EPS for the current year.
In related news, SVP Kenneth Duda sold 12,296 shares of Arista Networks stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $81.34, for a total value of $1,000,156.64. Following the transaction, the senior vice president now directly owns 420 shares of the company’s stock, valued at $34,162.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jayshree Ullal sold 386,291 shares of Arista Networks stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $87.97, for a total transaction of $33,982,019.27. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ANET. Public Employees Retirement Association of Colorado boosted its stake in Arista Networks by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,257 shares of the company’s stock valued at $107,000 after buying an additional 5 shares during the period. Montag & Caldwell LLC boosted its stake in Arista Networks by 0.4% in the second quarter. Montag & Caldwell LLC now owns 10,713 shares of the company’s stock valued at $690,000 after buying an additional 40 shares during the period. BlackRock Investment Management LLC boosted its stake in Arista Networks by 0.6% in the third quarter. BlackRock Investment Management LLC now owns 15,352 shares of the company’s stock valued at $1,306,000 after buying an additional 93 shares during the period. Legal & General Group Plc boosted its stake in Arista Networks by 3.5% in the second quarter. Legal & General Group Plc now owns 3,111 shares of the company’s stock valued at $200,000 after buying an additional 105 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Arista Networks by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,305 shares of the company’s stock valued at $111,000 after buying an additional 167 shares during the period. 55.52% of the stock is currently owned by institutional investors.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.
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