Arista Networks - ANET Stock Forecast, Price & News

Arista Networks, Inc. develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms. It also provides post contract customer support services, such as technical support, hardware repair and parts replacement beyond standard warranty, bug fix, patch, and upgrade services. The company serves a range of industries comprising internet companies, service providers, financial services organizations, government agencies, media and entertainment companies, and others. It markets and sells its products through distributors, system integrators, value-added resellers, and original equipment manufacturer partners, as well as through its direct sales force. The company was formerly known as Arastra, Inc. and changed its name to Arista Networks, Inc. in October 2008. Arista Networks, Inc. was incorporated in 2004 and is headquartered in Santa Clara, California.

Arista Networks Stock Down 3.0 %

Arista Networks stock opened at $120.97 on Wednesday. Arista Networks has a 52 week low of $85.18 and a 52 week high of $148.57. The company has a market capitalization of $36.81 billion, a price-to-earnings ratio of 37.31, a price-to-earnings-growth ratio of 1.96 and a beta of 1.35. The stock has a 50-day moving average price of $102.66 and a 200 day moving average price of $114.65.

Arista Networks (NYSE:ANET - Get Rating) last released its earnings results on Monday, August 1st. The technology company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.30. Arista Networks had a return on equity of 24.03% and a net margin of 29.55%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $979.66 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company's revenue was up 48.7% compared to the same quarter last year. Research analysts anticipate that Arista Networks will post 3.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Needham & Company LLC raised their price target on Arista Networks from $128.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, August 2nd. Cowen raised their price target on Arista Networks from $154.00 to $163.00 and gave the company an "outperform" rating in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. raised their price target on Arista Networks from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, August 2nd. Barclays cut their target price on Arista Networks from $138.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 2nd. Finally, Evercore ISI lifted their target price on Arista Networks from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.53.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 400 shares of Arista Networks stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $123.07, for a total transaction of $49,228.00. Following the completion of the sale, the director now owns 1,812 shares of the company's stock, valued at $223,002.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, Director Charles H. Giancarlo sold 6,660 shares of the business's stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $117.03, for a total value of $779,419.80. Following the completion of the transaction, the director now directly owns 98,946 shares of the company's stock, valued at $11,579,650.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 400 shares of the business's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $123.07, for a total value of $49,228.00. Following the completion of the transaction, the director now directly owns 1,812 shares of the company's stock, valued at $223,002.84. The disclosure for this sale can be found here. Insiders sold 527,220 shares of company stock valued at $54,483,146 over the last quarter. 19.59% of the stock is currently owned by company insiders.