Arista Networks (NYSE:ANET) Price Target Raised to $135.00 at The Goldman Sachs Group

Arista Networks (NYSE:ANET) had its target price boosted by The Goldman Sachs Group from $120.00 to $135.00 in a research note issued to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

A number of other research firms also recently commented on ANET. Wells Fargo & Company boosted their target price on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays decreased their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Rosenblatt Securities boosted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group lifted their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Price Performance

ANET stock opened at $119.78 on Friday. Arista Networks has a 1-year low of $60.08 and a 1-year high of $120.98. The business has a 50 day simple moving average of $107.45 and a two-hundred day simple moving average of $96.74. The company has a market capitalization of $150.90 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 3.09 and a beta of 1.08.

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

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 2,496 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $96.83, for a total value of $241,693.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 3,328 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $99.35, for a total value of $330,628.48. Following the transaction, the chief executive officer now owns 70,724 shares in the company, valued at $7,026,252.59. The trade was a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 345,316 shares of company stock valued at $37,761,976 in the last quarter. 3.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. Dimensional Fund Advisors LP grew its holdings in Arista Networks by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 596,220 shares of the technology company’s stock worth $208,962,000 after acquiring an additional 32,480 shares in the last quarter. Waterloo Capital L.P. purchased a new stake in shares of Arista Networks in the 2nd quarter worth approximately $217,000. Brighton Jones LLC boosted its stake in shares of Arista Networks by 8.8% during the second quarter. Brighton Jones LLC now owns 1,650 shares of the technology company’s stock valued at $578,000 after purchasing an additional 134 shares in the last quarter. Ieq Capital LLC increased its holdings in Arista Networks by 8.7% during the second quarter. Ieq Capital LLC now owns 34,019 shares of the technology company’s stock valued at $11,923,000 after buying an additional 2,719 shares during the period. Finally, Trust Investment Advisors purchased a new stake in Arista Networks during the second quarter worth $215,000. 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.