Arista Networks (NYSE:ANET) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Arista Networks (NYSE:ANET) had its target price increased by equities researchers at The Goldman Sachs Group from $120.00 to $135.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 12.05% from the company’s current price.

A number of other equities analysts also recently commented on the company. Citigroup increased their price objective on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group upped their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities lifted their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Trading Up 2.0 %

Shares of NYSE ANET traded up $2.36 during midday trading on Friday, reaching $120.49. The company’s stock had a trading volume of 2,396,366 shares, compared to its average volume of 5,898,291. The company has a market cap of $151.78 billion, a price-to-earnings ratio of 57.93, a price-to-earnings-growth ratio of 3.09 and a beta of 1.08. The company has a 50 day moving average price of $107.24 and a 200 day moving average price of $96.59. Arista Networks has a one year low of $60.08 and a one year high of $120.98.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Arista Networks’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. Research analysts anticipate that Arista Networks will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 3,328 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $99.35, for a total value of $330,628.48. Following the transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,026,252.59. This trade represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,496 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $96.83, for a total value of $241,693.92. The disclosure for this sale can be found here. Insiders sold 345,316 shares of company stock worth $37,761,976 in the last quarter. Insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANET. Cranbrook Wealth Management LLC boosted its holdings in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its stake in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Anchor Investment Management LLC acquired a new position in Arista Networks during the second quarter valued at approximately $35,000. Armstrong Advisory Group Inc. increased its stake in Arista Networks by 300.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 372 shares of the technology company’s stock valued at $41,000 after purchasing an additional 279 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Arista Networks during the third quarter worth $44,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.