Arista Networks (NYSE:ANET) Price Target Raised to $430.00

Arista Networks (NYSE:ANET) had its price objective increased by The Goldman Sachs Group from $390.00 to $430.00 in a research note published on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also weighed in on the stock. Citigroup upped their target price on shares of Arista Networks from $330.00 to $385.00 and gave the stock a buy rating in a research note on Thursday, June 27th. Evercore ISI reiterated an outperform rating and set a $400.00 price objective on shares of Arista Networks in a report on Friday, September 13th. Morgan Stanley boosted their target price on Arista Networks from $325.00 to $355.00 and gave the company an overweight rating in a research note on Thursday, July 18th. UBS Group upped their price target on Arista Networks from $285.00 to $369.00 and gave the stock a neutral rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group lifted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a buy rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $363.25.

Arista Networks Trading Down 0.5 %

NYSE:ANET opened at $386.37 on Tuesday. The stock has a market cap of $121.07 billion, a price-to-earnings ratio of 53.81, a PEG ratio of 3.04 and a beta of 1.07. The stock has a 50-day moving average price of $343.63 and a two-hundred day moving average price of $318.91. Arista Networks has a 1 year low of $168.25 and a 1 year high of $395.82.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the business earned $1.41 EPS. Arista Networks’s revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Arista Networks will post 7.38 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the sale, the director now directly owns 2,565 shares of the company’s stock, valued at $915,038.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the transaction, the director now directly owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,361 shares of company stock worth $29,349,123. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks in the first quarter valued at approximately $26,000. Beacon Capital Management LLC grew its holdings in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new position in Arista Networks during the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the second quarter valued at about $33,000. 82.47% of the stock is owned by institutional investors.

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.