FY2024 EPS Forecast for Arista Networks Increased by Analyst

Arista Networks, Inc. (NYSE:ANET - Free Report) - Analysts at William Blair upped their FY2024 earnings per share estimates for shares of Arista Networks in a note issued to investors on Thursday, December 5th. William Blair analyst S. Naji now anticipates that the technology company will post earnings per share of $1.98 for the year, up from their prior estimate of $1.98. The consensus estimate for Arista Networks' current full-year earnings is $1.96 per share. William Blair also issued estimates for Arista Networks' Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.57 EPS.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Arista Networks's revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS.

A number of other research analysts have also recently commented on the company. Evercore ISI upped their price objective on Arista Networks from $100.00 to $106.25 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Barclays cut their price objective on Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on Arista Networks from $97.50 to $107.50 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.88.

Arista Networks Stock Down 2.0 %

Shares of Arista Networks stock traded down $2.21 on Monday, hitting $106.04. 6,795,741 shares of the company were exchanged, compared to its average volume of 8,883,227. Arista Networks has a 1-year low of $55.67 and a 1-year high of $110.74. The stock has a market capitalization of $133.58 billion, a price-to-earnings ratio of 50.98, a price-to-earnings-growth ratio of 3.24 and a beta of 1.10. The company has a 50-day moving average price of $100.27 and a 200 day moving average price of $90.41.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Beacon Capital Management LLC lifted its stake in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company's stock worth $27,000 after acquiring an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks in the 2nd quarter worth approximately $27,000. Byrne Asset Management LLC acquired a new stake in shares of Arista Networks in the 2nd quarter worth approximately $33,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Arista Networks in the 2nd quarter worth approximately $35,000. Finally, Anchor Investment Management LLC acquired a new stake in shares of Arista Networks in the 2nd quarter worth approximately $35,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $89.19, for a total value of $132,707.28. Following the completion of the transaction, the director now directly owns 10,260 shares of the company's stock, valued at approximately $915,038.10. The trade was a 12.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 2,496 shares of Arista Networks stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $97.09, for a total transaction of $242,342.88. The disclosure for this sale can be found here. Insiders have sold 274,676 shares of company stock valued at $28,280,199 in the last quarter. Company insiders own 3.54% of the company's stock.

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.