Arista Networks (ANET) – Research Analysts’ Weekly Ratings Changes

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A number of research firms have changed their ratings and price targets for Arista Networks (NYSE: ANET):

9/19/2016 – Arista Networks was downgraded by analysts at MKM Partners from a “buy” rating to a “neutral” rating. They now have a $79.00 price target on the stock, down previously from $81.00.
9/14/2016 – Arista Networks had its price target raised by analysts at Deutsche Bank AG from $80.00 to $85.00. They now have a “buy” rating on the stock.
8/31/2016 – Arista Networks had its price target raised by analysts at Royal Bank Of Canada from $70.00 to $80.00. They now have a “sector perform” rating on the stock.
8/31/2016 – Arista Networks had its “hold” rating reaffirmed by analysts at RBC Capital Markets. They now have a $80.00 price target on the stock, up previously from $70.00.
8/26/2016 – Arista Networks had its price target raised by analysts at Citigroup Inc. from $62.00 to $65.00. They now have a “neutral” rating on the stock.
8/24/2016 – Arista Networks had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $90.00 price target on the stock.
8/18/2016 – Arista Networks is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $90.00 price target on the stock.
8/8/2016 – Arista Networks had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $105.00 price target on the stock.
8/6/2016 – Arista Networks was given a new $80.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
8/5/2016 – Arista Networks was given a new $90.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
8/5/2016 – Arista Networks had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $67.00 price target on the stock.
8/5/2016 – Arista Networks had its “sell” rating reaffirmed by analysts at Jefferies Group. They now have a $40.25 price target on the stock.
7/22/2016 – Arista Networks had its “overweight” rating reaffirmed by analysts at Pacific Crest. They now have a $90.00 price target on the stock, down previously from $99.00.

Arista Networks Inc. (NYSE:ANET) opened at 82.76 on Tuesday. The stock has a market capitalization of $5.73 billion, a PE ratio of 41.17 and a beta of 1.14. Arista Networks Inc. has a 1-year low of $52.51 and a 1-year high of $85.10. The stock’s 50 day moving average price is $78.02 and its 200 day moving average price is $69.68.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.06. The business earned $268.70 million during the quarter, compared to analysts’ expectations of $262.98 million. Arista Networks had a return on equity of 20.45% and a net margin of 15.03%. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. On average, equities research analysts predict that Arista Networks Inc. will post $2.94 earnings per share for the current fiscal year.

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In other Arista Networks news, insider Jayshree Ullal sold 105,847 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $79.85, for a total transaction of $8,451,882.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 12,296 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $81.34, for a total value of $1,000,156.64. Following the transaction, the senior vice president now owns 420 shares of the company’s stock, valued at approximately $34,162.80. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.
Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.

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