Arista Networks (NYSE:ANET) Upgraded at ValuEngine

ValuEngine upgraded shares of Arista Networks (NYSE:ANET) from a sell rating to a hold rating in a report published on Wednesday, ValuEngine reports.

A number of other brokerages have also weighed in on ANET. Stifel Nicolaus lowered shares of Arista Networks from a buy rating to a hold rating and lowered their price target for the company from $287.00 to $193.00 in a report on Friday, November 1st. Barclays set a $210.00 price target on shares of Arista Networks and gave the company a buy rating in a report on Friday, November 1st. Rosenblatt Securities reduced their price objective on shares of Arista Networks from $260.00 to $145.00 and set a neutral rating on the stock in a research note on Friday, November 1st. Bank of America cut shares of Arista Networks from a buy rating to a neutral rating in a research note on Friday, November 1st. Finally, Morgan Stanley reduced their price objective on shares of Arista Networks from $275.00 to $195.00 and set a weight rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $229.72.

Shares of Arista Networks stock traded down $1.83 during midday trading on Wednesday, reaching $192.61. The company had a trading volume of 796,570 shares, compared to its average volume of 911,833. The company has a current ratio of 5.91, a quick ratio of 5.47 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.60. The stock has a fifty day simple moving average of $230.47 and a 200 day simple moving average of $249.24. Arista Networks has a 1-year low of $173.31 and a 1-year high of $331.27.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.50. The business had revenue of $654.40 million during the quarter, compared to analyst estimates of $653.26 million. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. Arista Networks’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.11 earnings per share. Sell-side analysts expect that Arista Networks will post 8.54 earnings per share for the current year.

In other news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $225.20, for a total transaction of $450,400.00. Following the transaction, the senior vice president now directly owns 13,228 shares of the company’s stock, valued at $2,978,945.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 10,876 shares of Arista Networks stock in a transaction on Monday, August 12th. The stock was sold at an average price of $224.30, for a total transaction of $2,439,486.80. Following the transaction, the senior vice president now directly owns 1,971 shares in the company, valued at $442,095.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,986 shares of company stock worth $9,054,297. Insiders own 23.83% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers acquired a new stake in shares of Arista Networks during the third quarter worth $277,000. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Arista Networks by 3.3% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 2,072 shares of the technology company’s stock worth $495,000 after acquiring an additional 66 shares during the period. Focused Wealth Management Inc acquired a new stake in shares of Arista Networks during the third quarter worth $72,000. D.A. Davidson & CO. raised its holdings in shares of Arista Networks by 14.3% during the third quarter. D.A. Davidson & CO. now owns 2,175 shares of the technology company’s stock worth $520,000 after acquiring an additional 272 shares during the period. Finally, BBVA USA Bancshares Inc. acquired a new stake in shares of Arista Networks during the third quarter worth $331,000. Institutional investors and hedge funds own 58.95% of the company’s stock.

About Arista Networks

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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Analyst Recommendations for Arista Networks (NYSE:ANET)

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