Analysts Set Arista Networks, Inc. (NYSE:ANET) Target Price at $102.42

Arista Networks, Inc. (NYSE:ANET) has been given an average rating of “Moderate Buy” by the seventeen analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $105.83.

Several research analysts have weighed in on ANET shares. UBS Group boosted their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Rosenblatt Securities raised their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday.

Arista Networks Stock Up 1.4 %

Shares of NYSE ANET opened at $119.78 on Monday. The firm has a market cap of $150.90 billion, a PE ratio of 57.59, a P/E/G ratio of 3.09 and a beta of 1.08. The company’s fifty day simple moving average is $107.84 and its 200 day simple moving average is $97.01. Arista Networks has a 12-month low of $60.08 and a 12-month high of $120.98.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS. On average, equities analysts predict that Arista Networks will post 1.97 earnings per share for the current year.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marc Taxay sold 2,496 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $96.83, for a total transaction of $241,693.92. The disclosure for this sale can be found here. Insiders have sold a total of 345,316 shares of company stock worth $37,761,976 over the last 90 days. 3.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds have recently modified their holdings of the business. Cranbrook Wealth Management LLC grew its holdings in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont grew its stake in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the period. Westside Investment Management Inc. increased its holdings in Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares in the last quarter. Anchor Investment Management LLC bought a new stake in Arista Networks during the 2nd quarter worth approximately $35,000. Finally, Armstrong Advisory Group Inc. lifted its holdings in Arista Networks by 300.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 372 shares of the technology company’s stock valued at $41,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

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.