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Arista Networks (NYSE:ANET) Raised to "Neutral" at Rosenblatt Securities

Arista Networks logo with Computer and Technology background

Arista Networks (NYSE:ANET - Get Free Report) was upgraded by analysts at Rosenblatt Securities from a "sell" rating to a "neutral" rating in a report issued on Tuesday, MarketBeat reports. The firm currently has a $85.00 price objective on the technology company's stock, up from their previous price objective of $55.00. Rosenblatt Securities' target price would indicate a potential downside of 6.68% from the company's current price.

A number of other brokerages have also recently issued reports on ANET. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. 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. JPMorgan Chase & Co. cut their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Piper Sandler decreased their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and a consensus target price of $108.36.

View Our Latest Stock Analysis on ANET

Arista Networks Trading Up 3.7 %

Shares of ANET stock traded up $3.24 during midday trading on Tuesday, reaching $91.08. 11,074,320 shares of the stock were exchanged, compared to its average volume of 9,175,009. The firm has a market cap of $114.36 billion, a PE ratio of 41.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The company's 50 day moving average is $79.15 and its two-hundred day moving average is $97.72. Arista Networks has a 1 year low of $59.43 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts expect that Arista Networks will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the transaction, the director now directly owns 7,480 shares of the company's stock, valued at approximately $512,305.20. The trade was a 16.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 412,355 shares of company stock valued at $39,446,799. 3.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Forte Capital LLC ADV bought a new position in shares of Arista Networks during the 1st quarter valued at approximately $4,260,000. Commerzbank Aktiengesellschaft FI lifted its position in shares of Arista Networks by 97.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 11,828 shares of the technology company's stock worth $917,000 after purchasing an additional 5,841 shares during the period. Hudock Inc. purchased a new position in shares of Arista Networks in the 1st quarter valued at $230,000. Legacy Capital Wealth Partners LLC lifted its position in Arista Networks by 7.1% during the first quarter. Legacy Capital Wealth Partners LLC now owns 6,809 shares of the technology company's stock valued at $528,000 after acquiring an additional 452 shares during the last quarter. Finally, Altman Advisors Inc. grew its holdings in Arista Networks by 2.0% in the first quarter. Altman Advisors Inc. now owns 23,481 shares of the technology company's stock worth $1,932,000 after purchasing an additional 471 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Company Profile

(Get Free Report)

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.

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