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 Up 0.7 %

Shares of NYSE:ANET traded up $0.83 during midday trading on Friday, reaching $126.86. 1,125,997 shares of the company were exchanged, compared to its average volume of 2,294,220. Arista Networks has a fifty-two week low of $85.18 and a fifty-two week high of $148.57. The stock has a fifty day simple moving average of $104.05 and a two-hundred day simple moving average of $114.82. The firm has a market cap of $38.60 billion, a PE ratio of 39.12, a P/E/G ratio of 1.96 and a beta of 1.35.

Arista Networks (NYSE:ANET - Get Rating) last issued its quarterly earnings data 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 net margin of 29.55% and a return on equity of 24.03%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $979.66 million. During the same period last year, the business posted $0.56 earnings per share. The firm's quarterly revenue was up 48.7% on a year-over-year basis. As a group, analysts forecast that Arista Networks will post 3.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ANET. Piper Sandler increased their price target on shares of Arista Networks from $108.00 to $125.00 and gave the company a "neutral" rating in a research note on Tuesday, August 2nd. Oppenheimer reaffirmed a "market perform" rating and issued a $305.00 price objective on shares of Arista Networks in a research note on Wednesday, May 4th. Evercore ISI raised their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, August 2nd. Morgan Stanley raised their price objective on shares of Arista Networks from $114.00 to $125.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 2nd. Finally, Cowen raised their price objective on shares of Arista Networks from $154.00 to $163.00 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $157.53.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $102.95, for a total value of $10,295,000.00. Following the sale, the insider now directly owns 46,520,000 shares in the company, valued at approximately $4,789,234,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Arista Networks news, insider Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $102.95, for a total value of $10,295,000.00. Following the sale, the insider now directly owns 46,520,000 shares in the company, valued at approximately $4,789,234,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 560 shares of Arista Networks stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $98.50, for a total transaction of $55,160.00. Following the completion of the sale, the director now owns 2,212 shares in the company, valued at $217,882. The disclosure for this sale can be found here. In the last three months, insiders have sold 693,052 shares of company stock worth $75,489,488. Insiders own 19.59% of the company's stock.