Evercore ISI Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET - Free Report) had its price target boosted by Evercore ISI from $110.00 to $130.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the technology company's stock.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group upped their price objective on Arista Networks from $97.50 to $107.50 and gave the company a "buy" rating in a research note on Tuesday, September 24th. Rosenblatt Securities increased their price target on Arista Networks from $66.25 to $80.00 and gave the stock a "sell" rating in a research note on Friday, November 8th. Piper Sandler restated a "neutral" rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Finally, UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a "neutral" rating in a research report on Friday, November 8th. One research 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. Based on data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and a consensus price target of $105.83.

Arista Networks Stock Up 1.4 %

NYSE:ANET traded up $1.65 during trading hours on Friday, hitting $119.78. 5,776,024 shares of the company traded hands, compared to its average volume of 5,099,290. The company has a market cap of $150.90 billion, a PE ratio of 57.59, a PEG ratio of 3.09 and a beta of 1.08. The firm's 50-day simple moving average is $107.84 and its 200-day simple moving average is $96.96. Arista Networks has a one year low of $60.08 and a one year high of $120.98.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter last year, the firm earned $0.41 EPS. The company's quarterly revenue was up 20.0% compared to the same quarter last year. As a group, equities research analysts expect that Arista Networks will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company's stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 345,316 shares of company stock valued at $37,761,976 in the last quarter. Corporate insiders own 3.54% of the company's stock.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock valued at $4,313,229,000 after acquiring an additional 411,109 shares during the period. Geode Capital Management LLC increased its holdings in Arista Networks by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company's stock valued at $2,246,705,000 after purchasing an additional 236,151 shares during the period. Wellington Management Group LLP increased its holdings in Arista Networks by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company's stock valued at $1,021,228,000 after purchasing an additional 492,615 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Arista Networks by 4.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company's stock valued at $876,481,000 after purchasing an additional 99,790 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company's stock worth $769,560,000 after buying an additional 20,278 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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.