Arista Networks, Inc. (ANET) Price Target Increased to $205.00 by Analysts at BMO Capital Markets

Arista Networks, Inc. (NYSE:ANET) had its price target raised by stock analysts at BMO Capital Markets from $190.00 to $205.00 in a report released on Friday, November 3rd. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective indicates a potential downside of 8.36% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other equities analysts also recently commented on the company. Royal Bank Of Canada upped their price objective on Arista Networks from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $217.00 price objective (up previously from $175.00) on shares of Arista Networks in a research report on Friday, November 3rd. They noted that the move was a valuation call. DA Davidson raised Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price objective on the stock in a research report on Friday, November 3rd. BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 31st. Finally, JMP Securities increased their price target on Arista Networks from $185.00 to $230.00 and gave the stock a “market perform” rating in a research report on Thursday, October 26th. Sixteen equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Arista Networks currently has an average rating of “Buy” and a consensus price target of $186.76.

Shares of Arista Networks (ANET) traded down $3.41 during trading on Friday, reaching $223.69. The company’s stock had a trading volume of 203,088 shares, compared to its average volume of 829,156. The company has a market cap of $16,458.61, a P/E ratio of 54.12, a PEG ratio of 2.08 and a beta of 1.31. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. Arista Networks has a 12 month low of $86.00 and a 12 month high of $228.86.

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In related news, insider Ita M. Brennan sold 5,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $175.00, for a total transaction of $875,000.00. Following the completion of the transaction, the insider now directly owns 21,079 shares in the company, valued at $3,688,825. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $189.95, for a total value of $2,279,400.00. Following the transaction, the insider now owns 86,788 shares of the company’s stock, valued at $16,485,380.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,962 shares of company stock valued at $42,475,487. Company insiders own 28.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in Arista Networks by 8.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,632 shares of the technology company’s stock valued at $1,447,000 after acquiring an additional 575 shares in the last quarter. Affinity Wealth Management raised its position in Arista Networks by 26.7% during the third quarter. Affinity Wealth Management now owns 2,734 shares of the technology company’s stock valued at $518,000 after acquiring an additional 576 shares in the last quarter. Janus Henderson Group PLC raised its position in Arista Networks by 167.8% during the third quarter. Janus Henderson Group PLC now owns 371,915 shares of the technology company’s stock valued at $70,519,000 after acquiring an additional 233,039 shares in the last quarter. Jackson Square Partners LLC raised its position in Arista Networks by 4.1% during the third quarter. Jackson Square Partners LLC now owns 265,024 shares of the technology company’s stock valued at $50,251,000 after acquiring an additional 10,319 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Arista Networks by 7.8% during the third quarter. Asset Management One Co. Ltd. now owns 73,790 shares of the technology company’s stock valued at $13,977,000 after acquiring an additional 5,365 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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