Stocks of Arista Networks Inc. (NYSE:ANET) traded higher last session on Wall Street, up 0.77% to $182.76.
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 $225.00 and a low of $154.00, we find $200.00. Given the previous closing price of $181.37, this indicates a potential upside of 10.27 percent. ANET stock price is now 10.04% away from the 50-day moving average and 25.15% away from the 200-day moving average. The market capitalization of the company currently stands at $57.02B.
A total of 9 analysts have issued a hold rating and 14 have given it a buy rating. Brokers who have rated the stock have averaged $195.20 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, Duda Kenneth, CTO and SVP Software Eng. sold 20,000 shares of the company’s stock on Aug 10. The stock was sold for $3,552,343 at an average price of $177.62. Upon completion of the transaction, the CTO and SVP Software Eng. now directly owns 3,244 shares in the company, valued at $0.59 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, CTO and SVP Software Eng. Duda Kenneth sold 19,500 shares of the business’s stock. A total of $3,463,520 was realized by selling the stock at an average price of $177.62. This leaves the insider owning 219,600 shares of the company worth $40.13 million. Insiders disposed of 1,477,306 shares of company stock worth roughly $269.99 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 $525,109,000. VIKING GLOBAL INVESTORS LP invested $372,207,000 in shares of ANET during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Arista Networks Inc. valued at approximately $137,374,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in ANET for approximately $56,381,000. WESTFIELD CAPITAL MANAGEMENT CO LP purchased a new stake in ANET valued at around $54,058,000 in the second quarter. In total, there are 1,369 active investors with 67.90% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $182.18 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 $190.65. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.10, and a quick ratio of 2.80. According to the stock market information, the enterprise value for the company is $52.46B, which is based on a 33.74 price-to-earnings ratio, a 3.38 price-to-earnings-growth ratio, and a beta of 1.15. The fifty day moving average price for ANET is $166.55 and a two-hundred day moving average price translates $146.34 for the stock.
The latest earnings results from Arista Networks Inc. (NYSE: ANET) was released for Jun, 2023. According to the Computer Hardware Company, earnings per share came in at $1.58, beating analysts’ expectations of $1.44 by 0.14. This compares to $0.94 EPS in the same period last year. The net profit margin was 32.50% and return on equity was 33.40% for ANET. The company reported revenue of $1.46 billion for the quarter, compared to $1.05 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 38.7 percent. For the current quarter, analysts expect ANET to generate $1.48B 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.
