Arista Networks, Inc. (NYSE:ANET) Receives Average Recommendation of “Moderate Buy” from Analysts

Posted by Defense World Staff on Jul 13th, 2023

Arista Networks, Inc. (NYSE:ANET – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $174.35.

Several research analysts recently commented on ANET shares. Argus increased their target price on shares of Arista Networks from $175.00 to $195.00 in a report on Tuesday, May 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $175.00 target price on shares of Arista Networks in a report on Wednesday, April 5th. JPMorgan Chase & Co. increased their price target on Arista Networks from $175.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Barclays upped their price objective on Arista Networks from $177.00 to $179.00 in a research note on Tuesday, May 2nd. Finally, StockNews.com began coverage on shares of Arista Networks in a research note on Thursday, May 18th. They issued a “hold” rating for the company.

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $160.55, for a total value of $167,614.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Marc Taxay sold 1,044 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $160.55, for a total transaction of $167,614.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $171.11, for a total value of $2,309,985.00. Following the completion of the sale, the chief executive officer now owns 1,751,200 shares of the company’s stock, valued at $299,647,832. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,186 shares of company stock valued at $26,399,419. Insiders own 18.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Trifecta Capital Advisors LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at approximately $27,000. Hollencrest Capital Management acquired a new position in Arista Networks during the first quarter valued at approximately $30,000. TFC Financial Management Inc. lifted its stake in Arista Networks by 131.0% during the first quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock worth $33,000 after purchasing an additional 110 shares during the last quarter. TCI Wealth Advisors Inc. boosted its holdings in shares of Arista Networks by 126.7% in the 4th quarter. TCI Wealth Advisors Inc. now owns 297 shares of the technology company’s stock valued at $36,000 after purchasing an additional 166 shares in the last quarter. Finally, Close Asset Management Ltd bought a new position in shares of Arista Networks in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 67.80% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $164.04 on Thursday. The firm has a market cap of $50.57 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23. The stock’s 50-day moving average is $154.40 and its 200-day moving average is $145.85. Arista Networks has a one year low of $94.90 and a one year high of $178.36.

Arista Networks (NYSE:ANET – Get Free Report) last released its earnings results on Monday, May 1st. The technology company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Arista Networks had a return on equity of 31.33% and a net margin of 31.24%. The business’s quarterly revenue was up 54.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. On average, equities analysts expect that Arista Networks will post 5.22 EPS for the current year.

About Arista Networks

(Get Free Report

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.