Analysts Expect Arista Networks Inc (NYSE:ANET) Will Announce Earnings of $2.17 Per Share

Brokerages predict that Arista Networks Inc (NYSE:ANET) will announce earnings per share (EPS) of $2.17 for the current quarter, Zacks reports. Ten analysts have made estimates for Arista Networks’ earnings, with estimates ranging from $2.03 to $2.26. Arista Networks reported earnings per share of $1.83 in the same quarter last year, which suggests a positive year-over-year growth rate of 18.6%. The firm is expected to announce its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Arista Networks will report full year earnings of $8.67 per share for the current fiscal year, with EPS estimates ranging from $8.28 to $8.89. For the next year, analysts anticipate that the business will post earnings of $9.41 per share, with EPS estimates ranging from $8.93 to $10.07. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Arista Networks.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, beating the consensus estimate of $1.98 by $0.46. The business had revenue of $608.32 million for the quarter, compared to analyst estimates of $606.78 million. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 earnings per share.



A number of brokerages recently issued reports on ANET. Piper Jaffray Companies restated an “overweight” rating and set a $330.00 target price (down previously from $340.00) on shares of Arista Networks in a research report on Friday, June 7th. Barclays began coverage on shares of Arista Networks in a research report on Wednesday, August 7th. They set an “overweight” rating and a $284.00 target price on the stock. Goldman Sachs Group set a $290.00 target price on shares of Arista Networks and gave the stock a “buy” rating in a research report on Friday, August 30th. Morgan Stanley decreased their target price on shares of Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Finally, Needham & Company LLC decreased their target price on shares of Arista Networks to $340.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Arista Networks presently has an average rating of “Buy” and an average price target of $303.00.

NYSE ANET traded down $2.33 during mid-day trading on Friday, reaching $247.61. 19,910 shares of the stock were exchanged, compared to its average volume of 632,198. Arista Networks has a 1-year low of $187.08 and a 1-year high of $331.27. The business’s fifty day simple moving average is $236.71 and its 200 day simple moving average is $269.15. The stock has a market capitalization of $18.91 billion, a PE ratio of 35.00, a PEG ratio of 1.44 and a beta of 1.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.17 and a current ratio of 5.77.

In other news, Director Nikos Theodosopoulos sold 1,360 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $225.31, for a total value of $306,421.60. Following the completion of the sale, the director now owns 4,630 shares of the company’s stock, valued at approximately $1,043,185.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $263.32, for a total transaction of $526,640.00. Following the completion of the sale, the senior vice president now directly owns 14,150 shares of the company’s stock, valued at approximately $3,725,978. The disclosure for this sale can be found here. Insiders have sold a total of 49,810 shares of company stock worth $12,538,880 in the last ninety days. 23.83% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gradient Investments LLC acquired a new position in shares of Arista Networks in the 2nd quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new position in shares of Arista Networks in the 2nd quarter valued at about $41,000. Financial Management Professionals Inc. boosted its holdings in shares of Arista Networks by 548.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock valued at $42,000 after buying an additional 137 shares during the period. Coastal Investment Advisors Inc. boosted its stake in Arista Networks by 311.1% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 185 shares of the technology company’s stock valued at $48,000 after purchasing an additional 140 shares during the period. Finally, Valeo Financial Advisors LLC boosted its stake in Arista Networks by 24.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock valued at $49,000 after purchasing an additional 37 shares during the period. 58.78% of the stock is owned by institutional investors.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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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