Arista Networks (NYSE:ANET) Given New $130.00 Price Target at Evercore ISI

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

Other equities analysts have also recently issued reports about the stock. Citigroup upped their price target on shares of Arista Networks from $96.25 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. UBS Group increased their target price on shares of Arista Networks from $92.25 to $106.25 and gave the company a "neutral" rating in a report on Friday, November 8th. Piper Sandler reissued a "neutral" rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities boosted their target price on Arista Networks from $66.25 to $80.00 and gave the stock a "sell" rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $105.83.

Arista Networks Stock Performance

ANET traded up $1.65 during trading on Friday, hitting $119.78. The stock had a trading volume of 5,776,024 shares, compared to its average volume of 6,213,376. Arista Networks has a twelve month low of $60.08 and a twelve month high of $120.98. The firm has a market capitalization of $150.90 billion, a P/E ratio of 57.59, a PEG ratio of 3.09 and a beta of 1.08. The company's 50-day moving average price is $107.45 and its 200 day moving average price is $96.74.

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

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $98.30, for a total transaction of $786,360.00. Following the transaction, the director now directly owns 179,784 shares in the company, valued at $17,671,868.28. This represents a 4.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 3,328 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $99.35, for a total transaction of $330,628.48. Following the transaction, the chief executive officer now directly owns 70,724 shares of the company's stock, valued at $7,026,252.59. This trade represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 345,316 shares of company stock valued at $37,761,976. Company insiders own 3.54% of the company's stock.

Institutional Trading of Arista Networks

Several institutional investors have recently made changes to their positions in the stock. New Century Financial Group LLC grew its holdings in shares of Arista Networks by 264.2% during the 4th quarter. New Century Financial Group LLC now owns 4,166 shares of the technology company's stock worth $480,000 after purchasing an additional 3,022 shares during the period. FCG Investment Co grew its stake in Arista Networks by 341.9% during the fourth quarter. FCG Investment Co now owns 18,400 shares of the technology company's stock worth $2,034,000 after buying an additional 14,236 shares during the period. Lifestyle Asset Management Inc. increased its position in shares of Arista Networks by 299.6% in the fourth quarter. Lifestyle Asset Management Inc. now owns 3,844 shares of the technology company's stock worth $425,000 after acquiring an additional 2,882 shares in the last quarter. Veracity Capital LLC raised its stake in shares of Arista Networks by 312.9% in the 4th quarter. Veracity Capital LLC now owns 14,129 shares of the technology company's stock valued at $1,562,000 after acquiring an additional 10,707 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of Arista Networks by 350.5% during the 4th quarter. Inspire Investing LLC now owns 129,030 shares of the technology company's stock valued at $14,262,000 after acquiring an additional 100,390 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.