Arista Networks (NYSE:ANET) Price Target Raised to $460.00

Arista Networks (NYSE:ANET - Get Free Report) had its target price increased by stock analysts at Wells Fargo & Company from $390.00 to $460.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Wells Fargo & Company's price objective suggests a potential upside of 15.35% from the stock's previous close.

Several other research firms have also commented on ANET. Jefferies Financial Group raised their price target on shares of Arista Networks from $340.00 to $380.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. KeyCorp upped their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, Morgan Stanley boosted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $373.88.

Arista Networks Price Performance

ANET traded down $2.78 on Wednesday, reaching $398.79. 219,118 shares of the stock were exchanged, compared to its average volume of 2,200,162. The company's 50-day moving average price is $373.86 and its 200 day moving average price is $337.07. The firm has a market capitalization of $124.97 billion, a PE ratio of 55.56, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks has a fifty-two week low of $187.68 and a fifty-two week high of $422.73.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.38. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. As a group, equities analysts forecast that Arista Networks will post 7.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John F. Mccool sold 588 shares of the firm's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $206,094.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John F. Mccool sold 588 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $206,094.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 216 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the transaction, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,570 shares of company stock valued at $21,474,782. 3.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently made changes to their positions in ANET. Moloney Securities Asset Management LLC purchased a new position in shares of Arista Networks during the third quarter worth $438,000. Catalyst Capital Advisors LLC raised its holdings in shares of Arista Networks by 57.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,160 shares of the technology company's stock valued at $829,000 after buying an additional 785 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in Arista Networks by 8.6% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 722 shares of the technology company's stock valued at $278,000 after acquiring an additional 57 shares during the period. PDS Planning Inc grew its position in Arista Networks by 13.8% in the 3rd quarter. PDS Planning Inc now owns 1,663 shares of the technology company's stock valued at $638,000 after acquiring an additional 202 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in Arista Networks by 77.0% during the third quarter. QRG Capital Management Inc. now owns 74,089 shares of the technology company's stock worth $28,437,000 after purchasing an additional 32,237 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.

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