Arista Networks (ANET) to Release Quarterly Earnings on Thursday

Arista Networks (NYSE:ANET) will issue its quarterly earnings data after the market closes on Thursday, November 1st. Analysts expect the company to announce earnings of $1.61 per share for the quarter.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 2nd. The technology company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.43. The firm had revenue of $519.85 million for the quarter, compared to the consensus estimate of $509.62 million. Arista Networks had a return on equity of 28.51% and a net margin of 28.07%. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. On average, analysts expect Arista Networks to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.

NYSE ANET opened at $228.46 on Wednesday. The company has a market cap of $16.43 billion, a PE ratio of 49.13, a P/E/G ratio of 1.60 and a beta of 1.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.87 and a current ratio of 3.17. Arista Networks has a fifty-two week low of $177.92 and a fifty-two week high of $313.37.



In other Arista Networks news, Director Nikos Theodosopoulos sold 110 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $273.27, for a total value of $30,059.70. Following the completion of the sale, the director now directly owns 2,073 shares in the company, valued at approximately $566,488.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $2,956,030.00. Following the completion of the sale, 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 a total of 214,737 shares of company stock valued at $63,805,710 over the last quarter. Company insiders own 24.95% of the company’s stock.

ANET has been the topic of several analyst reports. Deutsche Bank reissued a “sell” rating and set a $180.00 target price on shares of Arista Networks in a research report on Monday, September 10th. William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Monday, September 17th. Morgan Stanley downgraded Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective on the stock. in a research report on Tuesday, September 4th. Goldman Sachs Group downgraded Arista Networks from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Finally, JPMorgan Chase & Co. upped their price objective on Arista Networks from $282.00 to $287.00 and gave the company a “hold” rating in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $286.48.

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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Earnings History for Arista Networks (NYSE:ANET)

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