Rosenblatt Securities Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET - Free Report) had its price objective lifted by Rosenblatt Securities from $85.00 to $87.00 in a research report report published on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a neutral rating on the technology company's stock.

A number of other analysts have also recently weighed in on the company. Barclays reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. JPMorgan Chase & Co. dropped their price target 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. Citigroup decreased their price objective on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Evercore ISI dropped their target price on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC decreased their price target on shares of Arista Networks from $145.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $106.07.

Arista Networks Trading Down 1.3 %

Shares of ANET traded down $1.12 during trading hours on Wednesday, hitting $86.15. The company had a trading volume of 8,267,268 shares, compared to its average volume of 9,107,271. The company has a market capitalization of $108.17 billion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. Arista Networks has a one year low of $59.43 and a one year high of $133.58. The company's fifty day moving average price is $78.94 and its two-hundred day moving average price is $97.31.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm's revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. Analysts forecast that Arista Networks will post 2.2 earnings per share for the current year.

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 Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now directly owns 8,128 shares of the company's stock, valued at $870,752.64. This represents a 15.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total value of $7,205,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,168,748.32. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,355 shares of company stock valued at $37,216,079. 3.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arista Networks

A number of large investors have recently added to or reduced their stakes in the stock. Caitlin John LLC raised its position in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. HighMark Wealth Management LLC lifted its position in shares of Arista Networks by 179.7% in 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. Cranbrook Wealth Management LLC boosted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

About Arista Networks

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.