Credit Suisse Group Analysts Give Arista Networks (ANET) a $303.00 Price Target

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Arista Networks (NYSE:ANET) has been assigned a $303.00 target price by equities researchers at Credit Suisse Group in a research note issued on Friday. The brokerage currently has a “buy” rating on the technology company’s stock. Credit Suisse Group’s target price indicates a potential upside of 17.67% from the company’s previous close.

A number of other analysts have also recently commented on ANET. ValuEngine raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Zacks Investment Research raised shares of Arista Networks from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. JPMorgan Chase & Co. began coverage on shares of Arista Networks in a report on Thursday, May 3rd. They set a “neutral” rating and a $282.00 target price for the company. Royal Bank of Canada dropped their price target on shares of Arista Networks to $280.00 and set an “outperform” rating for the company in a research report on Friday, May 4th. Finally, KeyCorp upped their price target on shares of Arista Networks from $295.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, May 4th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $268.77.

ANET stock traded down $0.78 during midday trading on Friday, reaching $257.49. 412,799 shares of the company’s stock traded hands, compared to its average volume of 919,653. Arista Networks has a 52-week low of $141.78 and a 52-week high of $311.67. The stock has a market cap of $19.21 billion, a P/E ratio of 55.37, a P/E/G ratio of 1.93 and a beta of 1.46. The company has a current ratio of 5.20, a quick ratio of 4.61 and a debt-to-equity ratio of 0.02.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, May 3rd. The technology company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.20. Arista Networks had a net margin of 27.19% and a return on equity of 27.23%. The business had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $462.11 million. equities analysts forecast that Arista Networks will post 6.33 earnings per share for the current year.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $262.03, for a total transaction of $524,060.00. Following the completion of the transaction, the senior vice president now owns 13,885 shares in the company, valued at $3,638,286.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nikos Theodosopoulos sold 110 shares of the stock in a transaction on Monday, May 21st. The shares were sold at an average price of $250.27, for a total transaction of $27,529.70. Following the transaction, the director now owns 1,746 shares of the company’s stock, valued at approximately $436,971.42. The disclosure for this sale can be found here. Insiders have sold 137,937 shares of company stock valued at $37,825,355 in the last quarter. 24.95% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in ANET. Two Sigma Advisers LP raised its stake in shares of Arista Networks by 188.8% in the fourth quarter. Two Sigma Advisers LP now owns 433,024 shares of the technology company’s stock valued at $102,012,000 after acquiring an additional 283,061 shares during the period. Deutsche Bank AG boosted its holdings in shares of Arista Networks by 2.9% in the 4th quarter. Deutsche Bank AG now owns 189,476 shares of the technology company’s stock valued at $44,632,000 after buying an additional 5,408 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of Arista Networks in the 1st quarter valued at about $5,708,000. Wells Fargo & Company MN boosted its holdings in shares of Arista Networks by 2.5% in the 4th quarter. Wells Fargo & Company MN now owns 174,494 shares of the technology company’s stock valued at $41,107,000 after buying an additional 4,192 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Arista Networks by 22.2% in the 4th quarter. Renaissance Technologies LLC now owns 826,200 shares of the technology company’s stock valued at $194,636,000 after buying an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 53.38% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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