Zacks: Brokerages Anticipate Arista Networks, Inc. (NYSE:ANET) to Post $0.92 EPS

Wall Street analysts predict that Arista Networks, Inc. (NYSE:ANETGet Rating) will report earnings of $0.92 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Arista Networks’ earnings, with estimates ranging from $0.90 to $0.94. Arista Networks reported earnings per share of $0.68 in the same quarter last year, which suggests a positive year over year growth rate of 35.3%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Arista Networks will report full year earnings of $3.70 per share for the current financial year, with EPS estimates ranging from $3.45 to $3.87. For the next fiscal year, analysts forecast that the business will report earnings of $4.27 per share, with EPS estimates ranging from $4.06 to $4.55. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Arista Networks.

Arista Networks (NYSE:ANETGet Rating) last announced its earnings results on Monday, May 2nd. The technology company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. During the same quarter in the prior year, the firm earned $0.57 earnings per share.

A number of research analysts have recently issued reports on ANET shares. UBS Group lifted their price objective on shares of Arista Networks from $133.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, February 15th. Loop Capital lifted their price objective on shares of Arista Networks from $157.00 to $170.00 in a research report on Tuesday, February 15th. Oppenheimer reissued a “market perform” rating and issued a $305.00 price target on shares of Arista Networks in a research report on Wednesday, May 4th. Credit Suisse Group boosted their price target on shares of Arista Networks from $166.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, February 15th. Finally, StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks presently has an average rating of “Buy” and a consensus target price of $153.61.

In other news, Director Kelly Bodnar Battles sold 560 shares of the firm’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $115.69, for a total transaction of $64,786.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,668 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $113.40, for a total transaction of $189,151.20. Following the sale, the director now directly owns 3,224 shares in the company, valued at approximately $365,601.60. The disclosure for this sale can be found here. Insiders have sold a total of 690,195 shares of company stock worth $83,352,899 over the last three months. 22.01% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Business Financial Services Inc. boosted its holdings in shares of Arista Networks by 1.7% in the first quarter. First Business Financial Services Inc. now owns 14,553 shares of the technology company’s stock worth $2,023,000 after buying an additional 238 shares during the last quarter. OLD National Bancorp IN purchased a new position in shares of Arista Networks in the first quarter worth approximately $216,000. Toronto Dominion Bank boosted its holdings in shares of Arista Networks by 12.4% in the first quarter. Toronto Dominion Bank now owns 145,526 shares of the technology company’s stock worth $20,224,000 after buying an additional 16,090 shares during the last quarter. Hyman Charles D purchased a new position in shares of Arista Networks in the first quarter worth approximately $712,000. Finally, Scotia Capital Inc. boosted its holdings in shares of Arista Networks by 9.9% in the first quarter. Scotia Capital Inc. now owns 4,871 shares of the technology company’s stock worth $677,000 after buying an additional 438 shares during the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

ANET opened at $102.48 on Friday. The company has a market cap of $31.59 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 2.21 and a beta of 1.28. The company has a fifty day moving average price of $125.54 and a two-hundred day moving average price of $129.32. Arista Networks has a 1-year low of $78.33 and a 1-year high of $148.57.

About Arista Networks (Get Rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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