Stocks of Arista Networks Inc. (NYSE:ANET) traded higher last session on Wall Street, down -2.75% to $171.41.
According to the data, Arista Networks Inc. (NYSE:ANET) has 26 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $215.00 and a low of $135.00, we find $177.00. Given the previous closing price of $176.26, this indicates a potential upside of 0.42 percent. ANET stock price is now 9.70% away from the 50-day moving average and 22.63% away from the 200-day moving average. The market capitalization of the company currently stands at $53.81B.
A total of 10 analysts have issued a hold rating and 14 have given it a buy rating. Brokers who have rated the stock have averaged $175.65 as their price target over the next twelve months.
With the price target of $210, Exane BNP Paribas recently initiated with Outperform rating for Arista Networks Inc. (NYSE: ANET).
In other news, Sadana Anshul, SVP, Chief Operating Officer sold 13,504 shares of the company’s stock on Jul 17. The stock was sold for $2,296,340 at an average price of $170.05. Upon completion of the transaction, the SVP, Chief Operating Officer now directly owns 30,082 shares in the company, valued at $5.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 11, CTO and SVP Software Eng. Duda Kenneth sold 20,000 shares of the business’s stock. A total of $3,190,114 was realized by selling the stock at an average price of $159.51. This leaves the insider owning 3,244 shares of the company worth $0.56 million. Insiders disposed of 1,675,433 shares of company stock worth roughly $287.19 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 WCM INVESTMENT MANAGEMENT, LLC during the first quarter worth $492,498,000. DSM CAPITAL PARTNERS LLC invested $143,045,000 in shares of ANET during the first quarter. In the first quarter, CLARK CAPITAL MANAGEMENT GROUP, INC. acquired a new stake in Arista Networks Inc. valued at approximately $33,952,000. DRIEHAUS CAPITAL MANAGEMENT LLC acquired a new stake in ANET for approximately $29,027,000. ORIBEL CAPITAL MANAGEMENT, LP purchased a new stake in ANET valued at around $28,060,000 in the second quarter.
Thursday’s opening bell rang with an opening price of $175.30 for Arista Networks Inc. (NYSE: ANET). During the past 12 months, Arista Networks Inc. has had a low of $98.20 and a high of $178.36. 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 2.70. According to the stock market information, the enterprise value for the company is $49.57B, which is based on a 35.66 price-to-earnings ratio, a 3.57 price-to-earnings-growth ratio, and a beta of 1.24. The fifty day moving average price for ANET is $156.92 and a two-hundred day moving average price translates $140.07 for the stock.
The latest earnings results from Arista Networks Inc. (NYSE: ANET) was released for Mar, 2023. According to the Computer Hardware Company, earnings per share came in at $1.43, beating analysts’ expectations of $1.34 by 0.09. This compares to $0.85 EPS in the same period last year. The net profit margin was 31.20% and return on equity was 32.60% for ANET. The company reported revenue of $1.35 billion for the quarter, compared to $877.07 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 54.08 percent. For the current quarter, analysts expect ANET to generate $1.38B 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, telecommunication service providers, 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.
