Arista Networks (NYSE:ANET) PT Raised to $430.00

Arista Networks (NYSE:ANET) had its price objective increased by equities research analysts at The Goldman Sachs Group from $390.00 to $430.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 10.78% from the company’s previous close.

ANET has been the topic of several other research reports. Barclays lifted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. UBS Group increased their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. KeyCorp lifted their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group increased their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $363.25.

Arista Networks Stock Up 0.8 %

Shares of ANET opened at $388.16 on Tuesday. The stock has a market capitalization of $121.94 billion, a P/E ratio of 53.91, a PEG ratio of 3.04 and a beta of 1.07. Arista Networks has a twelve month low of $168.25 and a twelve month high of $390.00. The firm has a fifty day simple moving average of $342.59 and a two-hundred day simple moving average of $318.42.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the firm earned $1.41 earnings per share. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts expect that Arista Networks will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the sale, the chief executive officer now directly owns 1,595,800 shares in the company, valued at approximately $569,700,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,595,800 shares in the company, valued at $569,700,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 624 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The disclosure for this sale can be found here. Insiders sold a total of 82,361 shares of company stock worth $29,349,123 in the last three months. Insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several large investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks during the 1st quarter valued at $26,000. Beacon Capital Management LLC grew its holdings in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks in the second quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in shares of Arista Networks during the 2nd quarter valued at about $33,000. 82.47% of the stock is currently owned by institutional investors.

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.