Nomura Increases Arista Networks (ANET) Price Target to $250.00

Arista Networks (NYSE:ANET) had its price objective lifted by Nomura from $185.00 to $250.00 in a research report issued on Tuesday. The brokerage currently has a “neutral” rating on the technology company’s stock. Nomura’s price objective would indicate a potential upside of 5.03% from the company’s previous close.

ANET has been the subject of a number of other research reports. JMP Securities increased their target price on shares of Arista Networks from $185.00 to $230.00 and gave the stock a “market perform” rating in a research report on Thursday, October 26th. BMO Capital Markets increased their target price on shares of Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a research report on Friday, November 3rd. They noted that the move was a valuation call. Citigroup increased their target price on shares of Arista Networks from $275.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. BidaskClub upgraded shares of Arista Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Fifteen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $247.93.

Shares of Arista Networks (ANET) opened at $238.03 on Tuesday. Arista Networks has a 12-month low of $115.86 and a 12-month high of $311.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. The stock has a market cap of $17,400.00, a P/E ratio of 39.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.47.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 15th. The technology company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. Arista Networks had a net margin of 25.71% and a return on equity of 27.23%. The company had revenue of $467.90 million during the quarter, compared to the consensus estimate of $463.82 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s revenue was up 42.7% compared to the same quarter last year. equities analysts expect that Arista Networks will post 5.5 earnings per share for the current year.

In other Arista Networks news, insider Anshul Sadana sold 24,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $256.25, for a total value of $6,150,000.00. Following the sale, the insider now directly owns 80,972 shares in the company, valued at approximately $20,749,075. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $275.31, for a total transaction of $550,620.00. Following the completion of the sale, the senior vice president now owns 12,294 shares in the company, valued at $3,384,661.14. The disclosure for this sale can be found here. Insiders sold a total of 293,446 shares of company stock worth $70,227,654 over the last quarter. 28.09% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ANET. PNC Financial Services Group Inc. grew its position in Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Arista Networks by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 211,624 shares of the technology company’s stock worth $31,700,000 after purchasing an additional 858 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Arista Networks by 44.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 22,121 shares of the technology company’s stock worth $3,314,000 after purchasing an additional 6,823 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Arista Networks in the 2nd quarter worth $314,000. Finally, Oakbrook Investments LLC acquired a new stake in Arista Networks in the 3rd quarter worth $334,000. Institutional investors own 57.18% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Nomura Increases Arista Networks (ANET) Price Target to $250.00” was published by Week Herald and is the sole property of of Week Herald. If you are accessing this story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark law. The original version of this story can be accessed at https://weekherald.com/2018/02/22/nomura-increases-arista-networks-anet-price-target-to-250-00.html.

Arista Networks Company Profile

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)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply