Arista Networks, Inc. (NYSE:ANET) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Arista Networks, Inc. (NYSE:ANET - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seventeen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $102.42.

Several research analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Arista Networks from $97.50 to $107.50 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. Citigroup increased their price target on shares of Arista Networks from $96.25 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, Rosenblatt Securities lifted their target price on Arista Networks from $66.25 to $80.00 and gave the stock a "sell" rating in a research note on Friday, November 8th.

Arista Networks Price Performance

Shares of ANET traded up $2.11 during mid-day trading on Monday, hitting $118.21. 6,216,571 shares of the company's stock were exchanged, compared to its average volume of 6,256,357. The company has a 50-day simple moving average of $107.24 and a 200 day simple moving average of $96.59. The company has a market cap of $148.91 billion, a PE ratio of 56.83, a P/E/G ratio of 3.09 and a beta of 1.08. Arista Networks has a 52 week low of $60.08 and a 52 week high of $120.28.

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

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 3,328 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $99.35, for a total value of $330,628.48. Following the transaction, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,026,252.59. This trade represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 288 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders sold 345,316 shares of company stock worth $37,761,976 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently made changes to their positions in ANET. Johnson Investment Counsel Inc. acquired a new position in Arista Networks during the second quarter valued at approximately $237,000. GHP Investment Advisors Inc. lifted its position in shares of Arista Networks by 39.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 371 shares of the technology company's stock worth $130,000 after buying an additional 104 shares during the last quarter. Parallel Advisors LLC boosted its stake in Arista Networks by 12.5% in the second quarter. Parallel Advisors LLC now owns 7,450 shares of the technology company's stock valued at $2,611,000 after buying an additional 826 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in Arista Networks by 34.5% in the second quarter. Thoroughbred Financial Services LLC now owns 4,136 shares of the technology company's stock valued at $1,449,000 after acquiring an additional 1,061 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its stake in Arista Networks by 328.3% during the second quarter. Wealthspire Advisors LLC now owns 4,587 shares of the technology company's stock worth $1,608,000 after acquiring an additional 3,516 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

About Arista Networks

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.