Arista Networks Inc (NYSE:ANET) shares traded 5.23% higher at $210.84 on Wall Street last session.
In accordance with the data, 26 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 $232.00 and a low of $180.00, we find $220.00. Given the previous closing price of $200.37, this indicates a potential upside of 9.8 percent. ANET stock price is now 12.26% away from the 50-day moving average and 29.91% away from the 200-day moving average. The market capitalization of the company currently stands at $65.27B.
It has been rated a hold by 10 analysts and a buy by 15. Brokers who have rated the stock have averaged $214.00 as their price target over the next twelve months.
With the price target enhanced from $185 to $220, Morgan Stanley Upgraded its rating from Equal-Weight to Overweight 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 Oct 10. The stock was sold for $3,929,225 at an average price of $196.46. Upon completion of the transaction, the CTO and SVP Software Eng. now directly owns 3,244 shares in the company, valued at $0.68 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 10, CTO and SVP Software Eng. Duda Kenneth sold 19,500 shares of the business’s stock. A total of $3,831,017 was realized by selling the stock at an average price of $196.46. This leaves the insider owning 212,600 shares of the company worth $44.82 million. Insiders disposed of 1,680,844 shares of company stock worth roughly $354.39 million over the past 1 year. A total of 18.69% of the company’s stock is owned by insiders.
Arista Networks Inc (NYSE: ANET) opened at $202.93 on Wednesday. During the past 12 months, Arista Networks Inc has had a low of $107.57 and a high of $201.45. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 4.15, and a quick ratio of 3.01. According to the stock market information, the enterprise value for the company is $57.62B, which is based on a 35.09 price-to-earnings ratio, a 3.52 price-to-earnings-growth ratio, and a beta of 1.12. The fifty day moving average price for ANET is $187.82 and a two-hundred day moving average price translates $162.30 for the stock.
The latest earnings results from Arista Networks Inc (NYSE: ANET) was released for Sep, 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 $1.13 EPS in the same period last year. The net profit margin was 33.97% and return on equity was 34.91% for ANET. The company reported revenue of $1.51 billion for the quarter, compared to $1.18 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 28.27 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.
