Brokerages Set Arista Networks, Inc. (NYSE:ANET) Target Price at $369.50

Arista Networks, Inc. (NYSE:ANET - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $373.88.

Several research analysts have weighed in on ANET shares. Citigroup lifted their target price on Arista Networks from $385.00 to $460.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Jefferies Financial Group upped their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Barclays lifted their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Morgan Stanley increased their price target on shares of Arista Networks from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group lifted their price objective on Arista Networks from $390.00 to $430.00 and gave the company a "buy" rating in a report on Tuesday, September 24th.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Kelly Bodnar Battles sold 216 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 832 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the sale, the chief executive officer now owns 17,681 shares of the company's stock, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,570 shares of company stock worth $21,474,782 in the last three months. Company insiders own 3.54% of the company's stock.

Institutional Investors Weigh In On Arista Networks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Beacon Capital Management LLC increased its stake in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company's stock worth $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new stake in Arista Networks during the 2nd quarter valued at approximately $27,000. Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC acquired a new stake in Arista Networks in the second quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Arista Networks in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Trading Down 0.6 %

Shares of NYSE ANET traded down $2.30 during mid-day trading on Wednesday, reaching $399.27. The company had a trading volume of 421,941 shares, compared to its average volume of 2,201,128. Arista Networks has a 52-week low of $187.68 and a 52-week high of $422.73. The stock has a market cap of $125.12 billion, a P/E ratio of 55.56, a PEG ratio of 3.21 and a beta of 1.07. The firm has a 50 day simple moving average of $373.86 and a two-hundred day simple moving average of $337.07.

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