Arista Networks (ANET) Set to Announce Earnings on Tuesday

Arista Networks (NYSE:ANET) is set to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $1.53 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm posted $1.25 EPS. The company’s revenue was up 20.8% on a year-over-year basis. On average, analysts expect Arista Networks to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Arista Networks Price Performance

Shares of ANET opened at $274.40 on Monday. The firm has a fifty day moving average price of $279.07 and a 200 day moving average price of $250.02. The stock has a market cap of $85.79 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. Arista Networks has a 1-year low of $131.68 and a 1-year high of $307.74.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now directly owns 60,946 shares in the company, valued at approximately $17,462,247.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John F. Mccool sold 416 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $105,888.64. The disclosure for this sale can be found here. Insiders sold a total of 335,974 shares of company stock worth $96,252,685 over the last ninety days. 18.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. Wells Fargo & Company upped their price target on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Barclays lifted their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $285.53.

About Arista Networks

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.