Arista Networks (ANET) Expected to Announce Earnings on Monday

Arista Networks (NYSE:ANET - Get Free Report) is projected to post its quarterly earnings results before the market opens on Monday, February 10th. Analysts expect Arista Networks to post earnings of $2.24 per share and revenue of $1.90 billion for the quarter. Individual that are interested in registering for the company's earnings conference call can do so using this link.

Arista Networks Stock Performance

Shares of Arista Networks stock traded down $3.41 during trading on Tuesday, hitting $116.82. 5,664,630 shares of the company's stock were exchanged, compared to its average volume of 8,744,188. The business has a 50-day simple moving average of $113.57 and a 200-day simple moving average of $100.33. Arista Networks has a 52-week low of $60.08 and a 52-week high of $133.57. The stock has a market capitalization of $147.16 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 3.10 and a beta of 1.09.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 71,036 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the sale, the chief executive officer now owns 70,724 shares of the company's stock, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock valued at $37,787,297 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

Several research firms recently commented on ANET. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Piper Sandler restated a "neutral" rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Morgan Stanley lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $105.83.

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.