Arista Networks (ANET) PT Lowered to $255.00 at JPMorgan Chase & Co.

Arista Networks (NYSE:ANET) had its price objective decreased by stock analysts at JPMorgan Chase & Co. to $255.00 in a report released on Thursday, The Fly reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 12.94% from the stock’s current price.

ANET has been the subject of a number of other reports. Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Morgan Stanley lowered shares of Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 price target for the company. in a research report on Tuesday, September 4th. William Blair restated an “outperform” rating on shares of Arista Networks in a research report on Monday, September 17th. Goldman Sachs Group lowered shares of Arista Networks from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Finally, Berenberg Bank set a $350.00 price target on shares of Arista Networks and gave the company a “buy” rating in a research report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $287.41.

Shares of ANET stock opened at $225.79 on Thursday. The company has a current ratio of 3.17, a quick ratio of 2.87 and a debt-to-equity ratio of 0.02. Arista Networks has a 1 year low of $177.92 and a 1 year high of $313.37. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 1.95 and a beta of 1.48.



Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, August 2nd. The technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.43. Arista Networks had a net margin of 28.07% and a return on equity of 28.51%. The business had revenue of $519.85 million for the quarter, compared to analysts’ expectations of $509.62 million. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, sell-side analysts expect that Arista Networks will post 6.43 EPS for the current fiscal year.

In related news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $260.26, for a total value of $520,520.00. Following the completion of the transaction, the senior vice president now directly owns 15,371 shares in the company, valued at $4,000,456.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 11,000 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $268.73, for a total transaction of $2,956,030.00. Following the completion of the transaction, the senior vice president now owns 1,845 shares of the company’s stock, valued at $495,806.85. The disclosure for this sale can be found here. Insiders sold 205,820 shares of company stock valued at $61,827,581 over the last quarter. 24.95% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Summit Trail Advisors LLC lifted its stake in Arista Networks by 34,145.8% in the first quarter. Summit Trail Advisors LLC now owns 8,663,852 shares of the technology company’s stock worth $8,664,000 after purchasing an additional 8,638,553 shares during the last quarter. BlackRock Inc. lifted its stake in Arista Networks by 5.3% in the second quarter. BlackRock Inc. now owns 2,805,544 shares of the technology company’s stock worth $722,399,000 after purchasing an additional 140,468 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Arista Networks by 26.3% in the second quarter. Renaissance Technologies LLC now owns 1,093,700 shares of the technology company’s stock worth $281,617,000 after purchasing an additional 227,500 shares during the last quarter. First Trust Advisors LP lifted its stake in Arista Networks by 7.9% in the second quarter. First Trust Advisors LP now owns 1,000,702 shares of the technology company’s stock worth $257,671,000 after purchasing an additional 73,288 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Arista Networks by 12.8% in the first quarter. Allianz Asset Management GmbH now owns 731,422 shares of the technology company’s stock worth $186,732,000 after purchasing an additional 83,174 shares during the last quarter. 54.71% of the stock is owned by institutional investors and hedge funds.

About Arista Networks

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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