Several brokerages have updated their recommendations and price targets on shares of Arista Networks (NYSE: ANET) in the last few weeks:
- 7/18/2024 – Arista Networks had its price target raised by analysts at Morgan Stanley from $325.00 to $355.00. They now have an “overweight” rating on the stock.
- 7/17/2024 – Arista Networks had its price target raised by analysts at KeyCorp from $349.00 to $432.00. They now have an “overweight” rating on the stock.
- 7/16/2024 – Arista Networks had its price target raised by analysts at Evercore ISI from $340.00 to $400.00. They now have an “outperform” rating on the stock.
- 7/15/2024 – Arista Networks had its price target raised by analysts at Piper Sandler from $302.00 to $345.00. They now have a “neutral” rating on the stock.
- 6/27/2024 – Arista Networks had its price target raised by analysts at Citigroup Inc. from $330.00 to $385.00. They now have a “buy” rating on the stock.
- 6/20/2024 – Arista Networks had its price target raised by analysts at Bank of America Co. from $320.00 to $380.00. They now have a “buy” rating on the stock.
- 6/14/2024 – Arista Networks had its “buy” rating reaffirmed by analysts at Erste Group Bank AG.
- 6/12/2024 – Arista Networks had its price target raised by analysts at Morgan Stanley from $300.00 to $325.00. They now have an “overweight” rating on the stock.
Arista Networks Stock Up 3.5 %
ANET traded up $11.68 during midday trading on Monday, reaching $342.24. The company had a trading volume of 2,045,096 shares, compared to its average volume of 2,443,290. The business has a 50-day moving average of $329.48 and a two-hundred day moving average of $292.51. The company has a market cap of $107.24 billion, a P/E ratio of 47.67, a P/E/G ratio of 2.91 and a beta of 1.11. Arista Networks, Inc. has a 1 year low of $149.10 and a 1 year high of $376.50.
Arista Networks (NYSE:ANET – Get Free Report) last released its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.55 billion. On average, equities research analysts predict that Arista Networks, Inc. will post 7.06 EPS for the current year.
Insider Buying and Selling
Institutional Investors Weigh In On Arista Networks
Institutional investors have recently modified their holdings of the stock. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks in the 1st quarter valued at approximately $26,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth approximately $35,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Arista Networks during the 2nd quarter worth approximately $35,000. Brown Lisle Cummings Inc. bought a new stake in shares of Arista Networks during the 2nd quarter worth approximately $35,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its stake in shares of Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. 82.47% of the stock is owned by institutional investors.
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.
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