FY2025 EPS Estimate for Arista Networks Increased by Analyst

Arista Networks, Inc. (NYSE:ANET - Free Report) - William Blair boosted their FY2025 EPS estimates for shares of Arista Networks in a note issued to investors on Wednesday, August 6th. William Blair analyst S. Naji now expects that the technology company will post earnings of $2.56 per share for the year, up from their prior forecast of $2.30. The consensus estimate for Arista Networks' current full-year earnings is $2.20 per share.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The business's revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS.

ANET has been the subject of several other reports. KeyCorp upped their price target on Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Citigroup increased their target price on Arista Networks from $123.00 to $136.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Piper Sandler increased their target price on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised their price target on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Wolfe Research assumed coverage on Arista Networks in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.07.

Arista Networks Trading Down 0.1%

Arista Networks stock opened at $139.15 on Monday. The firm has a 50 day moving average of $105.60 and a 200 day moving average of $95.06. The firm has a market capitalization of $174.89 billion, a price-to-earnings ratio of 54.73, a P/E/G ratio of 3.47 and a beta of 1.37. Arista Networks has a 12-month low of $59.43 and a 12-month high of $141.01.

Arista Networks declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $117.01, for a total transaction of $936,080.00. Following the completion of the sale, the director owned 57,784 shares of the company's stock, valued at $6,761,305.84. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $111.19, for a total value of $2,890,940.00. Following the sale, the senior vice president directly owned 582,400 shares of the company's stock, valued at $64,757,056. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,228,907 shares of company stock worth $638,699,061. 3.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently modified their holdings of the company. HighMark Wealth Management LLC raised its position in Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after acquiring an additional 230 shares in the last quarter. Quarry LP raised its position in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 206 shares in the last quarter. Dunhill Financial LLC raised its position in Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Arista Networks during the first quarter valued at approximately $30,000. Finally, Saudi Central Bank purchased a new position in Arista Networks during the first quarter valued at approximately $33,000. Institutional investors and hedge funds 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.

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