Arista Networks (NYSE:ANET) Upgraded by KeyCorp to "Strong-Buy" Rating

KeyCorp upgraded shares of Arista Networks (NYSE:ANET - Free Report) from an overweight rating to a strong-buy rating in a report published on Wednesday, MarketBeat Ratings reports. KeyCorp also issued estimates for Arista Networks' Q1 2026 earnings at $0.65 EPS, Q2 2026 earnings at $0.68 EPS, Q3 2026 earnings at $0.70 EPS, Q4 2026 earnings at $0.74 EPS and FY2026 earnings at $2.78 EPS.

A number of other equities analysts have also weighed in on ANET. Redburn Atlantic initiated coverage on Arista Networks in a research note on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price objective for the company. Citigroup upped their price objective on Arista Networks from $97.00 to $112.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Rosenblatt Securities upped their price objective on Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $109.33.

Arista Networks Price Performance

Shares of NYSE ANET traded down $2.22 during mid-day trading on Wednesday, reaching $99.37. The company's stock had a trading volume of 10,389,025 shares, compared to its average volume of 9,083,115. The firm has a market capitalization of $124.81 billion, a PE ratio of 42.06, a P/E/G ratio of 2.98 and a beta of 1.37. The stock has a fifty day moving average of $89.42 and a two-hundred day moving average of $95.70. Arista Networks has a 52 week low of $59.43 and a 52 week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. The business's quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. Analysts anticipate that Arista Networks will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its board has approved a share repurchase plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, SVP Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $92.23, for a total value of $2,766,900.00. Following the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,196,776.48. This represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $88.18, for a total value of $705,440.00. Following the completion of the transaction, the director now directly owns 123,784 shares in the company, valued at approximately $10,915,273.12. This trade represents a 6.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 161,690 shares of company stock valued at $14,525,085. 3.39% of the stock is currently owned by insiders.

Institutional Trading of Arista Networks

Several hedge funds and other institutional investors have recently bought and sold shares of ANET. Vanguard Group Inc. boosted its position in Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. FMR LLC boosted its position in Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock valued at $6,371,848,000 after acquiring an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC boosted its position in Arista Networks by 277.5% during the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock valued at $3,016,207,000 after acquiring an additional 20,059,303 shares in the last quarter. Geode Capital Management LLC boosted its position in Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock valued at $2,665,829,000 after acquiring an additional 18,293,874 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock valued at $2,328,869,000 after acquiring an additional 14,454,822 shares in the last quarter. Institutional investors own 82.47% 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.