According to Zacks, “Arista is well positioned with key cloud customers and is focused on expanding its presence across all the verticals. The company continues benefiting from the expanding cloud networking market led by strong demand for scalable infrastructure. Arista aims to sustain revenue growth and healthy cash generation in 2019 and beyond on the back of industry-leading product offerings that enable seamless integration with third-party applications for network management, automation and orchestration. The stock has outperformed the industry in the past year on average. However, Arista faces stiff competition in the cloud networking space, particularly from Cisco. Persistent lawsuits have been a distraction for it. It has been forced to bring down much of manufacturing in the United States, which along with redesigning of products, has led to loss of time and hurt gross margin.”
A number of other research analysts also recently issued reports on ANET. ValuEngine upgraded shares of Arista Networks from a hold rating to a buy rating in a research report on Thursday, March 21st. Rosenblatt Securities began coverage on shares of Arista Networks in a research report on Friday, March 29th. They issued a neutral rating and a $330.00 price target on the stock. JPMorgan Chase & Co. set a $285.00 price target on shares of Arista Networks and gave the stock a hold rating in a research report on Friday, February 15th. Deutsche Bank upgraded shares of Arista Networks from a sell rating to a hold rating and raised their price target for the stock from $190.00 to $225.00 in a research report on Tuesday, March 19th. Finally, Morgan Stanley raised their price target on shares of Arista Networks from $265.00 to $300.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $299.61.
Arista Networks stock opened at $328.54 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 4.48. Arista Networks has a 1 year low of $187.08 and a 1 year high of $330.53. The stock has a market capitalization of $24.88 billion, a PE ratio of 46.47, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51.
Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, February 14th. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.45. Arista Networks had a net margin of 29.47% and a return on equity of 29.37%. The company had revenue of $595.70 million for the quarter, compared to the consensus estimate of $591.41 million. During the same period last year, the firm posted $1.71 EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, research analysts expect that Arista Networks will post 8.24 earnings per share for the current year.
In other Arista Networks news, insider Jayshree Ullal sold 33,498 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $286.65, for a total transaction of $9,602,201.70. Following the transaction, the insider now owns 10,425 shares of the company’s stock, valued at approximately $2,988,326.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anshul Sadana sold 42,084 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.27, for a total transaction of $12,047,386.68. Following the transaction, the insider now directly owns 6,282 shares in the company, valued at approximately $1,798,348.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,229 shares of company stock worth $63,744,447. Corporate insiders own 24.95% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ANET. JPMorgan Chase & Co. increased its stake in Arista Networks by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,186,513 shares of the technology company’s stock valued at $315,445,000 after buying an additional 9,105 shares during the period. Bank of New York Mellon Corp increased its stake in Arista Networks by 89.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 412,714 shares of the technology company’s stock valued at $109,725,000 after buying an additional 194,933 shares during the period. Dimensional Fund Advisors LP increased its stake in Arista Networks by 6.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 217,584 shares of the technology company’s stock valued at $57,845,000 after buying an additional 12,851 shares during the period. Deutsche Bank AG increased its stake in Arista Networks by 66.2% during the 3rd quarter. Deutsche Bank AG now owns 126,016 shares of the technology company’s stock valued at $33,497,000 after buying an additional 50,214 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Arista Networks by 122.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 121,853 shares of the technology company’s stock valued at $32,396,000 after buying an additional 67,196 shares during the period. 56.33% of the stock is currently owned by hedge funds and other institutional investors.
Arista Networks 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, including universal leaf, spline, and universal spine products.
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