Morgan Stanley Boosts Arista Networks (NYSE:ANET) Price Target to $125.00

Arista Networks (NYSE:ANETGet Rating) had its price objective hoisted by Morgan Stanley from $114.00 to $125.00 in a research report released on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

ANET has been the topic of a number of other reports. Cowen raised their target price on shares of Arista Networks from $154.00 to $163.00 and gave the company an outperform rating in a research note on Tuesday. Bank of America downgraded shares of Arista Networks from a buy rating to an underperform rating and lowered their target price for the company from $140.00 to $105.00 in a research note on Wednesday, July 20th. Cowen raised their target price on shares of Arista Networks from $154.00 to $163.00 and gave the company an outperform rating in a research note on Tuesday. Citigroup raised their target price on shares of Arista Networks from $160.00 to $170.00 and gave the company a buy rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Arista Networks from $150.00 to $160.00 and gave the stock an overweight rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $157.53.

Arista Networks Stock Up 2.9 %

Shares of NYSE:ANET opened at $126.68 on Tuesday. The firm has a market capitalization of $39.05 billion, a PE ratio of 39.07, a P/E/G ratio of 2.00 and a beta of 1.35. Arista Networks has a twelve month low of $85.18 and a twelve month high of $148.57. The company has a 50-day moving average price of $101.91 and a two-hundred day moving average price of $114.69.

Arista Networks (NYSE:ANETGet Rating) last announced 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. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $979.66 million. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. Arista Networks’s quarterly revenue was up 48.7% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. Analysts anticipate that Arista Networks will post 3.28 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 6,779 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $102.32, for a total value of $693,627.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Marc Taxay sold 6,779 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $102.32, for a total value of $693,627.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ita M. Brennan sold 14,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $102.14, for a total value of $1,511,672.00. Following the completion of the transaction, the chief financial officer now owns 43,615 shares of the company’s stock, valued at $4,454,836.10. The disclosure for this sale can be found here. Insiders have sold a total of 530,320 shares of company stock worth $54,800,753 over the last quarter. Corporate insiders own 19.59% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently added to or reduced their stakes in ANET. BlackRock Inc. lifted its holdings in shares of Arista Networks by 316.3% during the fourth quarter. BlackRock Inc. now owns 17,330,539 shares of the technology company’s stock worth $2,491,267,000 after purchasing an additional 13,167,098 shares during the period. State Street Corp increased its position in shares of Arista Networks by 316.7% in the fourth quarter. State Street Corp now owns 8,893,510 shares of the technology company’s stock valued at $1,278,442,000 after buying an additional 6,759,436 shares in the last quarter. Capital World Investors increased its position in shares of Arista Networks by 289.1% in the fourth quarter. Capital World Investors now owns 8,686,014 shares of the technology company’s stock valued at $1,248,615,000 after buying an additional 6,453,749 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Arista Networks by 303.5% in the fourth quarter. Alliancebernstein L.P. now owns 8,374,583 shares of the technology company’s stock worth $1,203,846,000 after acquiring an additional 6,299,163 shares during the last quarter. Finally, Eaton Vance Management boosted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Eaton Vance Management now owns 4,681,386 shares of the technology company’s stock worth $672,741,000 after acquiring an additional 3,511,113 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

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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