Arista Networks, Inc. (NYSE:ANET) Receives Consensus Rating of "Moderate Buy" from Analysts

Arista Networks, Inc. (NYSE:ANET - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $102.42.

ANET has been the subject of several research reports. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Rosenblatt Securities lifted their price target on Arista Networks from $66.25 to $80.00 and gave the company a "sell" rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Citigroup lifted their target price on Arista Networks from $96.25 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Finally, UBS Group upped their price target on Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a research report on Friday, November 8th.

Insiders Place Their Bets

In related news, SVP Marc Taxay sold 2,496 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $96.83, for a total value of $241,693.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $99.12, for a total transaction of $147,887.04. Following the completion of the transaction, the director now directly owns 8,768 shares in the company, valued at approximately $869,084.16. This represents a 14.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 345,316 shares of company stock valued at $37,761,976 over the last 90 days. 3.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arista Networks

A number of large investors have recently made changes to their positions in the company. Johnson Investment Counsel Inc. bought a new position in Arista Networks during the 2nd quarter worth $237,000. GHP Investment Advisors Inc. raised its stake in Arista Networks by 39.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 371 shares of the technology company's stock worth $130,000 after purchasing an additional 104 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Arista Networks by 12.5% in the 2nd quarter. Parallel Advisors LLC now owns 7,450 shares of the technology company's stock valued at $2,611,000 after purchasing an additional 826 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of Arista Networks by 34.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 4,136 shares of the technology company's stock worth $1,449,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in shares of 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 purchasing an additional 3,516 shares during the period. Institutional investors own 82.47% of the company's stock.

Arista Networks Trading Down 0.9 %

Shares of Arista Networks stock opened at $114.46 on Monday. Arista Networks has a 12 month low of $60.08 and a 12 month high of $120.28. The company has a market capitalization of $144.19 billion, a PE ratio of 55.03, a PEG ratio of 3.21 and a beta of 1.08. The stock's fifty day simple moving average is $106.48 and its 200 day simple moving average is $96.08.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the previous year, the business posted $0.41 EPS. Arista Networks's revenue for the quarter was up 20.0% on a year-over-year basis. Analysts predict that Arista Networks will post 1.96 EPS for the current fiscal year.

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.