Arista Networks (ANET) Expected to Announce Earnings on Monday

Arista Networks (NYSE:ANET - Get Free Report) is expected to post its quarterly earnings results before the market opens on Monday, February 10th. Analysts expect Arista Networks to post earnings of $2.24 per share and revenue of $1.90 billion for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.41 EPS. The firm's quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts expect Arista Networks to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Arista Networks Stock Performance

NYSE:ANET traded down $0.38 during mid-day trading on Thursday, reaching $115.11. 5,425,801 shares of the company's stock were exchanged, compared to its average volume of 9,022,787. Arista Networks has a one year low of $60.08 and a one year high of $133.57. The business's fifty day simple moving average is $112.58 and its two-hundred day simple moving average is $99.48. The firm has a market capitalization of $145.01 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler restated a "neutral" rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company increased their price target on Arista Networks from $97.50 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.83.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 71,036 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock valued at $28,538,497 over the last ninety days. Insiders own 3.54% 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.