Arista Networks (NYSE:ANET) Stock Price Up 2.6% – Should You Buy?

Arista Networks, Inc. (NYSE:ANET) shares rose 2.6% during mid-day trading on Monday . The company traded as high as $118.79 and last traded at $118.18. Approximately 1,976,289 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 3,799,963 shares. The stock had previously closed at $115.20.

Wall Street Analyst Weigh In

ANET has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI upped their target price on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler restated a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Citigroup upped their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.70.

Arista Networks Price Performance

The stock’s 50 day moving average price is $104.73 and its two-hundred day moving average price is $94.95. The firm has a market capitalization of $149.11 billion, a price-to-earnings ratio of 56.90, a PEG ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 257,316 shares of company stock valued at $27,392,296 in the last 90 days. 3.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arista Networks

Several institutional investors and hedge funds have recently bought and sold shares of ANET. Anchor Investment Management LLC bought a new stake in Arista Networks in the second quarter valued at about $35,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks in the 3rd quarter valued at approximately $44,000. HM Payson & Co. raised its holdings in shares of Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the period. Finally, ORG Partners LLC grew its position in Arista Networks by 186.0% in the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after acquiring an additional 93 shares during the period. 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.