Stock analysts expect Arista Networks, Inc. (NYSE: ANET) to report sales of $ 737.15 million for the current quarter, Zacks Investment Research reports. Seven analysts have estimated Arista Networks earnings. The highest sales estimate is $ 739.90 million and the lowest is $ 735.00 million. Arista Networks reported revenue of $ 605.43 million in the same quarter last year, indicating a positive year-over-year growth rate of 21.8%. The company is expected to announce its next quarterly earnings report on Monday, November 1.
On average, analysts expect Arista Networks to report annual revenue of $ 2.87 billion for the current year, with estimates ranging from $ 2.85 billion to $ 2.88 billion. . For next year, analysts expect the company to post revenue of $ 3.22 billion, with estimates ranging from $ 3.06 billion to $ 3.41 billion. Zacks’ sales averages are an average based on a survey of sales-side research analysts who cover Arista Networks.
Arista Networks (NYSE: ANET) last reported its quarterly results on Sunday, August 1. The tech company reported EPS of $ 2.72 for the quarter, beating Thomson Reuters’ consensus estimate of $ 2.54 of $ 0.18. The company posted revenue of $ 707.30 million in the quarter, compared to analysts’ estimates of $ 688.89 million. Arista Networks recorded a return on equity of 20.92% and a net margin of 27.72%. The company’s revenue grew 30.8% year-over-year. During the same period of the previous year, the company posted earnings per share of $ 2.11.
Several equity research analysts recently commented on the company. UBS Group raised its price target on Arista Networks from $ 370.00 to $ 420.00 and gave the company a “buy” rating in a report released on Tuesday, August 3. Piper Sandler raised her price target for Arista Networks stock from $ 330.00 to $ 379.00 and gave the company a “neutral” rating in a research note on Tuesday, August 3. Evercore ISI reaffirmed a “buy” note on Arista Networks shares in a research note on Sunday, August 8. KeyCorp raised its price target for Arista Networks stock from $ 424.00 to $ 430.00 and rated the stock “overweight” in a Tuesday August 3 research note. Finally, Credit Suisse Group raised its price target on Arista Networks shares from $ 362.00 to $ 410.00 and gave the company an “outperformance” rating in a research report published on Tuesday 3 August. Six investment analysts rated the stock with a conservation rating and fifteen gave the stock a buy rating. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Buy” and an average target price of $ 381.33.
Arista Networks stock opened at $ 350.92 on Friday. The company has a fifty-day moving average of $ 369.96 and a 200-day moving average of $ 337.72. Arista Networks has a 52 week low of $ 192.96 and a 52 week high of $ 384.00. The company has a market cap of $ 26.92 billion, a P / E ratio of 38.27, a PEG ratio of 3.12 and a beta of 1.15.
In other Arista Networks news, CEO Jayshree Ullal sold 2,375 shares of the company in a transaction dated Thursday, July 1. The shares were sold at an average price of $ 364.08, for a total trade of $ 864,690.00. As a result of the transaction, the CEO now owns 991 shares of the company, valued at approximately $ 360,803.28. The transaction was disclosed in a file with the SEC, accessible through this link. Additionally, insider Andreas Bechtolsheim sold 9,135 shares of the company in a trade that took place on Tuesday, September 7. The stock was sold for an average price of $ 359.72, for a total value of $ 3,286,042.20. Disclosure of this sale can be found here. Insiders have sold 212,880 shares of the company valued at $ 78,665,635 in the past 90 days. Insiders hold 22.01% of the shares of the company.
Large investors recently changed their holdings of stocks. AQR Capital Management LLC strengthened its position in Arista Networks shares by 12.3% in the 1st quarter. AQR Capital Management LLC now owns 50,477 shares of the tech company valued at $ 15,061,000 after purchasing an additional 5,531 shares during the period. JPMorgan Chase & Co. increased its stake in Arista Networks by 436.1% during the first quarter. JPMorgan Chase & Co. now owns 468,805 shares of the tech company valued at $ 141,528,000 after purchasing an additional 381,356 shares in the last quarter. Alliancebernstein LP increased its stake in Arista Networks shares by 16.8% in the second quarter. Alliancebernstein LP now owns 1,484,812 shares of the technology company valued at $ 537,962,000 after purchasing an additional 213,915 shares during the period. Rafferty Asset Management LLC increased its position in Arista Networks shares by 6.5% in the first quarter. Rafferty Asset Management LLC now owns 10,651 shares of the technology company valued at $ 3,215,000 after acquiring an additional 651 shares in the last quarter. Finally, Gabelli Funds LLC increased its stake in Arista Networks shares by 40.0% during the first quarter. Gabelli Funds LLC now owns 7,000 shares of the technology company valued at $ 2,113,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors hold 61.51% of the company’s shares.
Arista Networks Company Profile
Arista Networks, Inc is engaged in the development, marketing and sale of cloud networking solutions. Its cloud-based networking solutions consist of an extensible operating system (EOS), a set of network applications, and Ethernet switching and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton and Kenneth Duda in October 2004 and is headquartered in Santa Clara, California.
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