Arista Networks (ANET) Price Target Increased to $300.00 by Analysts at Needham & Company LLC

Arista Networks (NYSE:ANET) had its price target upped by Needham & Company LLC from $230.00 to $300.00 in a report published on Wednesday. The firm currently has a buy rating on the technology company’s stock.

Several other analysts also recently issued reports on ANET. KeyCorp reiterated a buy rating and set a $200.00 price target on shares of Arista Networks in a research note on Friday, September 29th. BMO Capital Markets downgraded Arista Networks from an outperform rating to a market perform rating and set a $190.00 price target for the company. in a research note on Thursday, September 28th. They noted that the move was a valuation call. Berenberg Bank assumed coverage on Arista Networks in a research note on Tuesday, September 26th. They set a buy rating and a $225.00 price target for the company. Citigroup reiterated a buy rating and set a $215.00 price target on shares of Arista Networks in a research note on Wednesday, September 27th. Finally, Wells Fargo & Co assumed coverage on Arista Networks in a research note on Tuesday, November 14th. They set a market perform rating and a $235.00 price target for the company. Fourteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $205.66.

Arista Networks (NYSE ANET) traded down $1.76 on Wednesday, hitting $259.03. The stock had a trading volume of 824,100 shares, compared to its average volume of 828,254. The company has a market cap of $18,940.00, a P/E ratio of 53.74, a PEG ratio of 1.99 and a beta of 1.38. Arista Networks has a 52 week low of $87.33 and a 52 week high of $262.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.

In other Arista Networks news, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $189.95, for a total value of $2,279,400.00. Following the completion of the sale, the insider now owns 86,788 shares in the company, valued at approximately $16,485,380.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jayshree Ullal sold 81,380 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $211.89, for a total value of $17,243,608.20. Following the completion of the sale, the insider now owns 3,564 shares of the company’s stock, valued at approximately $755,175.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 606,126 shares of company stock valued at $138,901,364. 28.09% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in ANET. BlackRock Inc. lifted its position in shares of Arista Networks by 41.1% in the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock worth $356,048,000 after acquiring an additional 692,651 shares during the period. Koch Industries Inc. bought a new stake in shares of Arista Networks in the 2nd quarter worth approximately $592,000. State Street Corp lifted its position in shares of Arista Networks by 44.7% in the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after acquiring an additional 328,534 shares during the period. Atlantic Trust Group LLC bought a new stake in shares of Arista Networks in the 3rd quarter worth approximately $50,736,000. Finally, Vanguard Group Inc. lifted its position in shares of Arista Networks by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after acquiring an additional 249,753 shares during the period. Institutional investors own 57.96% of the company’s stock.

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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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