Arista Networks (NYSE:ANET) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Arista Networks (NYSE:ANET) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, Marketbeat reports. They currently have $115.00 price objective on the technology company’s stock, up from their previous price objective of $112.00.

A number of other research firms have also recently issued reports on ANET. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Barclays boosted their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Up 2.7 %

Shares of Arista Networks stock opened at $87.83 on Wednesday. Arista Networks has a twelve month low of $60.08 and a twelve month high of $133.57. The company has a 50-day simple moving average of $110.13 and a two-hundred day simple moving average of $102.14. The stock has a market capitalization of $110.76 billion, a price-to-earnings ratio of 39.56, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company 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 29.91%. On average, sell-side analysts anticipate that Arista Networks will post 2.2 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,289 shares of company stock worth $51,018,617 in the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several institutional investors and hedge funds have recently made changes to their positions in ANET. Janney Montgomery Scott LLC grew its position in Arista Networks by 8.7% during the third quarter. Janney Montgomery Scott LLC now owns 46,090 shares of the technology company’s stock valued at $17,690,000 after buying an additional 3,706 shares during the period. Catalyst Capital Advisors LLC grew its position in Arista Networks by 57.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,160 shares of the technology company’s stock valued at $829,000 after buying an additional 785 shares during the period. Moloney Securities Asset Management LLC bought a new position in Arista Networks during the third quarter valued at about $438,000. United Advisor Group LLC bought a new position in Arista Networks during the third quarter valued at about $501,000. Finally, Beacon Financial Advisory LLC boosted its position in Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares during the period. Hedge funds and other 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.