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 Price Performance

Shares of ANET Stock opened at $124.71 on Tuesday. The business's 50 day simple moving average is $102.29 and its 200 day simple moving average is $114.61. Arista Networks has a one year low of $85.18 and a one year high of $148.57. The stock has a market capitalization of $37.95 billion, a PE ratio of 38.46, a PEG ratio of 1.96 and a beta of 1.35.

Arista Networks (NYSE:ANET - Get Rating) last announced its earnings results on Monday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $979.66 million. During the same period last year, the firm posted $0.56 EPS. The business's revenue was up 48.7% compared to the same quarter last year. As a group, research analysts expect that Arista Networks will post 3.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of Arista Networks from $108.00 to $125.00 and gave the stock a "neutral" rating in a report on Tuesday, August 2nd. Needham & Company LLC boosted their target price on Arista Networks from $128.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, August 2nd. Cowen boosted their target price on Arista Networks from $154.00 to $163.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 2nd. Evercore ISI boosted their target price on Arista Networks from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 2nd. Finally, Cowen boosted their target price on Arista Networks from $154.00 to $163.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.53.

Insider Activity

In other Arista Networks news, insider Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $102.95, for a total value of $10,295,000.00. Following the transaction, the insider now directly owns 46,520,000 shares of the company's stock, valued at approximately $4,789,234,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Andreas Bechtolsheim sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $102.95, for a total value of $10,295,000.00. Following the transaction, the insider now directly owns 46,520,000 shares of the company's stock, valued at approximately $4,789,234,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 6,779 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $102.32, for a total value of $693,627.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 527,220 shares of company stock worth $54,483,146. 19.59% of the stock is currently owned by insiders.