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.
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.
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