Zacks: Analysts Expect Arista Networks, Inc. (NYSE:ANET) Will Post Quarterly Sales of $685.79 Million

Equities analysts expect Arista Networks, Inc. (NYSE:ANET) to report sales of $685.79 million for the current quarter, Zacks reports. Eight analysts have made estimates for Arista Networks’ earnings, with estimates ranging from $680.51 million to $691.40 million. Arista Networks posted sales of $540.57 million during the same quarter last year, which suggests a positive year-over-year growth rate of 26.9%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 3rd.

On average, analysts expect that Arista Networks will report full-year sales of $2.75 billion for the current fiscal year, with estimates ranging from $2.71 billion to $2.78 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.05 billion, with estimates ranging from $2.90 billion to $3.31 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Arista Networks.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, May 3rd. The technology company reported $2.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.12. Arista Networks had a return on equity of 20.73% and a net margin of 27.48%. The firm had revenue of $667.56 million for the quarter, compared to the consensus estimate of $642.57 million. During the same period in the prior year, the business posted $2.02 earnings per share. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year.

A number of equities analysts have recently commented on ANET shares. The Goldman Sachs Group raised their price objective on Arista Networks from $288.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Credit Suisse Group raised their price objective on Arista Networks from $359.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Finally, KeyCorp raised their price objective on Arista Networks from $365.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Arista Networks presently has a consensus rating of “Buy” and a consensus price target of $338.53.

Arista Networks stock opened at $364.35 on Wednesday. The stock has a 50-day moving average price of $334.44. The stock has a market cap of $27.79 billion, a P/E ratio of 42.71, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17. Arista Networks has a 12 month low of $192.96 and a 12 month high of $374.49.

In other Arista Networks news, SVP Marc Taxay sold 751 shares of the stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $304.06, for a total transaction of $228,349.06. Following the transaction, the senior vice president now owns 167 shares of the company’s stock, valued at approximately $50,778.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John F. Mccool sold 83 shares of the stock in a transaction that occurred on Tuesday, April 20th. The stock was sold at an average price of $312.97, for a total value of $25,976.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,329 shares of company stock valued at $31,207,302. 22.01% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. bought a new position in Arista Networks during the 4th quarter worth approximately $28,000. Credit Agricole S A bought a new stake in shares of Arista Networks in the 4th quarter worth approximately $29,000. Veritas Investment Partners UK Ltd. bought a new stake in shares of Arista Networks in the 4th quarter worth approximately $31,000. Carroll Financial Associates Inc. bought a new stake in shares of Arista Networks in the 1st quarter worth approximately $33,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Arista Networks by 187.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 118 shares of the technology company’s stock worth $36,000 after purchasing an additional 77 shares during the last quarter. 61.79% of the stock is currently 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.

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