Arista Networks (NYSE:ANET) Shares Up 1.9% - What's Next?

Key Points

• Arista Networks' stock increased by 1.9% to close at $149.51, with over 17.8 million shares traded, a notable rise from its average daily volume.
• Multiple analysts have raised their price targets for Arista Networks, with the average target now at $157.88 and a consensus rating of Moderate Buy.
• The company reported a 30.4% increase in revenue year-over-year, with earnings per share hitting $0.73, exceeding analyst expectations.

Arista Networks, Inc. (NYSE:ANET - Get Free Report)'s stock price shot up 1.9% during mid-day trading on Friday . The stock traded as high as $150.25 and last traded at $149.51. 17,801,003 shares changed hands during trading, an increase of 71% from the average session volume of 10,427,563 shares. The stock had previously closed at $146.66.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ANET shares. JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Citigroup upped their target price on shares of Arista Networks from $136.00 to $176.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Needham & Company LLC upped their target price on shares of Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Wedbush started coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued an "outperform" rating on the stock. Finally, Evercore ISI upped their target price on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $157.88.

Arista Networks Price Performance

The company has a market cap of $187.91 billion, a P/E ratio of 58.80, a P/E/G ratio of 3.12 and a beta of 1.49. The company's 50-day moving average price is $130.85 and its 200-day moving average price is $102.30.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The firm's revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value of $243,175,176.30. Following the completion of the sale, the chief executive officer owned 5,698,074 shares in the company, valued at $776,191,640.28. This trade represents a 23.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 7,582,614 shares of company stock valued at $983,487,717 over the last ninety days. 3.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds have recently bought and sold shares of the business. Stablepoint Partners LLC increased its holdings in Arista Networks by 0.8% in the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company's stock worth $962,000 after acquiring an additional 77 shares in the last quarter. Glenview Trust co increased its holdings in Arista Networks by 2.5% in the 2nd quarter. Glenview Trust co now owns 3,502 shares of the technology company's stock worth $358,000 after acquiring an additional 84 shares in the last quarter. Telos Capital Management Inc. increased its holdings in Arista Networks by 1.0% in the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company's stock worth $947,000 after acquiring an additional 88 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in Arista Networks by 1.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company's stock worth $618,000 after acquiring an additional 95 shares in the last quarter. Finally, Putney Financial Group LLC increased its holdings in Arista Networks by 0.7% in the 2nd quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company's stock worth $1,447,000 after acquiring an additional 95 shares in the last quarter. 82.47% of the stock is owned by 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.