In yesterday’s Wall Street session, Arista Networks Inc. (NYSE:ANET) shares traded at $162.50, down -0.31% from the previous session.
As of this writing, 27 analysts cover Arista Networks Inc. (NYSE:ANET). The consensus rating among analysts is ‘Overweight’. ANET stock price is now 16.12% away from the 50-day moving average and 32.71% away from the 200-day moving average. The market capitalization of the company currently stands at $49.92B.
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There are 10 analysts who have given it a hold rating, whereas 16 have given it a buy rating.
On November 04, 2022, Piper Sandler Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $126 to quote $164, while ‘BofA Securities’ rates the stock as ‘Buy’.
In other news, Sadana Anshul, SVP, Chief Operating Officer sold 43,225 shares of the company’s stock on Mar 15. The stock was sold for $6,588,839 at an average price of $152.43. Upon completion of the transaction, the SVP, Chief Operating Officer now directly owns 81,043 shares in the company, valued at $13.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14, CTO and SVP Software Eng. Duda Kenneth sold 3,500 shares of the business’s stock. A total of $530,753 was realized by selling the stock at an average price of $151.64. This leaves the insider owning 237,100 shares of the company worth $38.53 million. Insiders disposed of 3,311,738 shares of company stock worth roughly $538.16 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 TWINBEECH CAPITAL LP during the first quarter worth $77,644,000. ANOMALY CAPITAL MANAGEMENT, LP invested $39,319,000 in shares of ANET during the first quarter. In the first quarter, JUNTO CAPITAL MANAGEMENT LP acquired a new stake in Arista Networks Inc. valued at approximately $21,595,000. QUADRATURE CAPITAL LTD acquired a new stake in ANET for approximately $20,586,000. VALUE ALIGNED RESEARCH ADVISORS, LLC purchased a new stake in ANET valued at around $15,926,000 in the second quarter. In total, there are 1,196 active investors with 67.90% ownership of the company’s stock.
Wednesday morning saw Arista Networks Inc. (NYSE: ANET) opened at $164.85. During the past 12 months, Arista Networks Inc. has had a low of $89.11 and a high of $171.44. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.30, and a quick ratio of 3.20. The fifty day moving average price for ANET is $140.86 and a two-hundred day moving average price translates $122.78 for the stock.
The latest earnings results from Arista Networks Inc. (NYSE: ANET) was released for Sep, 2022. According to the Computer Hardware Company, earnings per share came in at $1.25, beating analysts’ expectations of $1.04 by 0.21. This compares to $0.75 EPS in the same period last year. The net profit margin was 30.90% and return on equity was 31.00% for ANET. The company reported revenue of $1.28 billion for the quarter, compared to $824.46 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 54.71 percent. For the current quarter, analysts expect ANET to generate $1.2B 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.
