Arista Networks (NYSE:ANET) Given New $118.00 Price Target at Morgan Stanley

Arista Networks (NYSE:ANET) had its target price increased by Morgan Stanley from $102.50 to $118.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target indicates a potential upside of 9.19% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Evercore ISI boosted their target price on shares of Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Citigroup boosted their price objective on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, UBS Group raised their target price on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average price target of $100.70.

Arista Networks Trading Down 4.3 %

Shares of NYSE ANET opened at $108.07 on Tuesday. The stock has a fifty day simple moving average of $101.87 and a two-hundred day simple moving average of $91.96. Arista Networks has a 1-year low of $56.65 and a 1-year high of $116.94. The firm has a market cap of $136.14 billion, a price-to-earnings ratio of 51.96, a price-to-earnings-growth ratio of 3.21 and a beta of 1.10.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. Analysts forecast that Arista Networks will post 1.96 EPS for the current year.

Insider Buying and Selling

In other news, insider John F. Mccool sold 288 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 2,496 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $97.09, for a total transaction of $242,342.88. The disclosure for this sale can be found here. Insiders sold 353,476 shares of company stock worth $36,841,998 in the last quarter. 3.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Beacon Capital Management LLC boosted its stake in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in Arista Networks during the 2nd quarter valued at $27,000. Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter valued at $33,000. Anchor Investment Management LLC bought a new stake in Arista Networks in the 2nd quarter worth $35,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Arista Networks in the third quarter valued at about $44,000. 82.47% of the stock is currently owned by institutional investors.

About Arista Networks

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.