The Goldman Sachs Group Raises Arista Networks (NYSE:ANET) Price Target to $145.00

Arista Networks (NYSE:ANET) had its price target lifted by analysts at The Goldman Sachs Group from $135.00 to $145.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 40.14% from the company’s current price.

Other analysts have also recently issued reports about the stock. Evercore ISI lifted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Stock Performance

Shares of ANET opened at $103.47 on Wednesday. The company’s 50 day moving average price is $114.01 and its 200 day moving average price is $101.55. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57. The company has a market capitalization of $130.35 billion, a PE ratio of 46.61, a PEG ratio of 2.98 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 31.22%. On average, equities analysts forecast that Arista Networks will post 2.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 259,944 shares of company stock valued at $30,214,186. 3.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arista Networks

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitlin John LLC increased its holdings in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC increased its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont increased its holdings in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC increased its holdings in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the period. Institutional investors own 82.47% of the company’s stock.

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.