Evercore ISI Raises Arista Networks (NYSE:ANET) Price Target to $145.00

Arista Networks (NYSE:ANET – Get Rating) had its target price lifted by Evercore ISI from $135.00 to $145.00 in a research report released on Tuesday morning, The Fly reports. They currently have an outperform rating on the technology company’s stock.

Several other equities research analysts have also issued reports on the company. StockNews.com lowered Arista Networks from a buy rating to a hold rating in a research note on Thursday, May 5th. Oppenheimer reiterated a market perform rating and issued a $305.00 price target on shares of Arista Networks in a report on Wednesday, May 4th. Cowen boosted their target price on Arista Networks from $151.00 to $154.00 in a research note on Tuesday, May 3rd. Needham & Company LLC upgraded Arista Networks from a hold rating to a buy rating and set a $128.00 target price on the stock in a research note on Tuesday, July 19th. Finally, Cowen boosted their price target on Arista Networks from $151.00 to $154.00 in a research note on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $157.53.

Arista Networks Stock Up 2.9 %

Shares of ANET stock opened at $126.68 on Tuesday. Arista Networks has a twelve month low of $85.18 and a twelve month high of $148.57. The stock has a market cap of $39.05 billion, a price-to-earnings ratio of 39.07, a PEG ratio of 2.00 and a beta of 1.35. The business’s fifty day moving average is $101.91 and its 200 day moving average is $114.69.

Arista Networks (NYSE:ANET – Get Rating) last posted its earnings results on Monday, August 1st. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.30. Arista Networks had a return on equity of 24.03% and a net margin of 29.55%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $979.66 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. Arista Networks’s revenue was up 48.7% on a year-over-year basis. Equities research analysts expect that Arista Networks will post 3.28 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $107.74, for a total value of $2,154,800.00. Following the completion of the sale, the senior vice president now owns 29,367 shares in the company, valued at approximately $3,164,000.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Andreas Bechtolsheim sold 100,000 shares of the firm’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $102.95, for a total transaction of $10,295,000.00. Following the completion of the transaction, the insider now directly owns 46,520,000 shares of the company’s stock, valued at approximately $4,789,234,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $107.74, for a total transaction of $2,154,800.00. Following the transaction, the senior vice president now directly owns 29,367 shares of the company’s stock, valued at $3,164,000.58. The disclosure for this sale can be found here. Insiders sold 530,320 shares of company stock worth $54,800,753 over the last three months. Corporate insiders own 19.59% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANET. Asset Dedication LLC acquired a new position in Arista Networks during the first quarter valued at approximately $25,000. Riverview Trust Co bought a new stake in shares of Arista Networks in the first quarter worth $26,000. JJJ Advisors Inc. increased its holdings in Arista Networks by 300.0% during the fourth quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock worth $28,000 after buying an additional 147 shares during the last quarter. Addison Advisors LLC acquired a new position in Arista Networks during the first quarter worth $28,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the technology company’s stock valued at $29,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

About Arista Networks

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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.