Arista Networks Inc. (NYSE:ANET) shares traded 1.08% higher at $128.13 on Wall Street last session.
In accordance with the data, 27 analysts cover Arista Networks Inc. (NYSE:ANET). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $203.00 and a low of $118.20, we find $164.00. Given the previous closing price of $126.76, this indicates a potential upside of 29.38 percent. ANET stock price is now 4.83% away from the 50-day moving average and 9.69% away from the 200-day moving average. The market capitalization of the company currently stands at $40.53B.
It has been rated a hold by 11 analysts and a buy by 15. Brokers who have rated the stock have averaged $159.20 as their price target over the next twelve months.
With the price target enhanced from $126 to $164, Piper Sandler Upgraded its rating from Neutral to Overweight for Arista Networks Inc. (NYSE: ANET). On November 01, 2022, BofA Securities Upgraded its previous ‘Underperform’ rating to ‘Buy’ on the stock increasing its target price from $105 to quote $150, while ‘Credit Suisse’ rates the stock as ‘Neutral’.
In other news, Giancarlo Charles H, Director sold 2,000 shares of the company’s stock on Dec 01. The stock was sold for $279,358 at an average price of $139.68. Upon completion of the transaction, the Director now directly owns 90,946 shares in the company, valued at $11.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 01, Senior Vice President, CFO Brennan Ita M sold 9,500 shares of the business’s stock. A total of $1,326,632 was realized by selling the stock at an average price of $139.65. This leaves the insider owning 32,731 shares of the company worth $4.19 million. Insiders disposed of 4,660,523 shares of company stock worth roughly $597.15 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ANET stock. A new stake in Arista Networks Inc. shares was purchased by CAPITAL COUNSEL LLC/NY during the first quarter worth $39,770,000. WHALE ROCK CAPITAL MANAGEMENT LLC invested $32,901,000 in shares of ANET during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in Arista Networks Inc. valued at approximately $29,964,000. TWIN TREE MANAGEMENT, LP acquired a new stake in ANET for approximately $12,659,000. AVALON INVESTMENT & ADVISORY purchased a new stake in ANET valued at around $11,633,000 in the second quarter. In total, there are 1,132 active investors with 67.40% ownership of the company’s stock.
Arista Networks Inc. (NYSE: ANET) opened at $128.06 on Thursday. During the past 12 months, Arista Networks Inc. has had a low of $89.11 and a high of $148.57. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.00, and a quick ratio of 3.00. The fifty day moving average price for ANET is $122.22 and a two-hundred day moving average price translates $116.81 for the stock.
The latest earnings results from Arista Networks Inc. (NYSE: ANET) was released for Jun, 2022. According to the Computer Hardware Company, earnings per share came in at $1.08, beating analysts’ expectations of $0.91 by 0.17. This compares to $0.70 EPS in the same period last year. The net profit margin was 29.60% and return on equity was 28.20% for ANET. The company reported revenue of $1.18 billion for the quarter, compared to $748.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.18 percent. For the current quarter, analysts expect ANET to generate $1.06B in revenue.
Arista Networks Inc.(ANET) Company Profile
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.