Rosenblatt Securities Has Lowered Expectations for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET) had its price target decreased by stock analysts at Rosenblatt Securities from $85.00 to $55.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the technology company’s stock. Rosenblatt Securities’ target price would indicate a potential downside of 22.33% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Evercore ISI decreased their target price on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Citigroup dropped their target price on shares of Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and raised their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.29.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $70.81 on Tuesday. Arista Networks has a 1 year low of $59.43 and a 1 year high of $133.58. The firm has a market cap of $88.91 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 3.10 and a beta of 1.30. The company has a 50-day moving average of $81.85 and a 200 day moving average of $98.68.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities analysts anticipate that Arista Networks will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 410,863 shares of company stock worth $39,344,612 in the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitlin John LLC raised its position in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its stake in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares in the last quarter. New Millennium Group LLC raised its holdings in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares during the period. Quarry LP lifted its position in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 206 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in shares of Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock worth $29,000 after acquiring an additional 212 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.