Equity research analysts expect Arista Networks, Inc. (NYSE:ANET – Get Rating) to report sales of $978.22 million for the current fiscal quarter, Zacks reports. Eight analysts have released earnings estimates for Arista Networks. The lowest sales estimate is $972.60 million and the highest is $984.96 million. Arista Networks reported sales of $707.32 million in the same quarter last year, suggesting a positive year-over-year growth rate of 38.3%. The company is expected to announce its next quarterly earnings report on Monday, January 1.
On average, analysts expect Arista Networks to post annual revenue of $3.91 billion in the current fiscal year, with estimates ranging from $3.85 billion to $3.95 billion. . For the next fiscal year, analysts expect the company to post sales of $4.45 billion, with estimates ranging from $4.40 billion to $4.53 billion. Zacks Investment Research sales averages are an average based on a survey of sell-side research companies that cover Arista Networks.
Arista Networks (NYSE:ANET – Get Rating) last reported quarterly earnings data on Monday, May 2. The technology company reported earnings per share (EPS) of $0.84 for the quarter, beating consensus analyst estimates of $0.81 by $0.03. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. In the same period a year earlier, the company posted earnings per share of $0.57.
A number of equity research analysts have recently released reports on the stock. KeyCorp raised its price target on Arista Networks stock from $165.00 to $172.00 and gave the stock an “overweight” rating in a Tuesday, Feb. 15 research report. Cowen raised his target price on Arista Networks stock from $151.00 to $154.00 in a Tuesday, May 3 research report. Loop Capital raised its target price on Arista Networks shares from $157.00 to $170.00 in a Tuesday, February 15 research report. Goldman Sachs Group raised its price target on Arista Networks stock from $135.50 to $150.00 and gave the stock a “buy” rating in a Tuesday, March 1 research report. Finally, StockNews.com downgraded Arista Networks shares from a “buy” rating to a “hold” rating in a Thursday, May 5, report. Eight analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $153.61.
Separately, insider John F. Mccool sold 7,621 shares in a trade that took place on Tuesday, May 24. The shares were sold at an average price of $97.93, for a total value of $746,324.53. Following the sale, the insider now directly owns 166 shares of the company, valued at approximately $16,256.38. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, insider Andreas Bechtolsheim sold 100,000 shares in a trade that took place on Wednesday, March 2. The shares were sold at an average price of $121.73, for a total transaction of $12,173,000.00. The disclosure of this sale can be found here. Insiders sold a total of 665,662 shares of the company worth $77,722,090 in the past ninety days. Insiders hold 22.01% of the shares of the company.
A number of hedge funds have recently changed their positions in the business. Captrust Financial Advisors increased its stake in Arista Networks by 2.1% during the third quarter. Captrust Financial Advisors now owns 1,770 shares of the technology company worth $608,000 after buying 36 additional shares during the period. Empirical Finance LLC increased its stake in Arista Networks by 7.9% in the 3rd quarter. Empirical Finance LLC now owns 628 shares of the technology company worth $216,000 after buying 46 additional shares during the period. Dynamic Technology Lab Private Ltd increased its equity stake in Arista Networks by 1.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 3,218 shares of the technology company valued at $1,106,000 after buying 59 additional shares in the last quarter. Corient Capital Partners LLC increased its equity stake in Arista Networks by 5.2% in the third quarter. Corient Capital Partners LLC now owns 1,244 shares of the technology company valued at $427,000 after buying 61 additional shares in the last quarter. Finally, Alaethes Wealth LLC increased its equity stake in Arista Networks by 2.1% in the third quarter. Alaethes Wealth LLC now owns 3,683 shares of the technology company valued at $1,266,000 after buying 75 additional shares in the last quarter. Hedge funds and other institutional investors hold 67.10% of the company’s shares.
Shares of Arista Networks opened at $105.87 on Monday. The stock has a market capitalization of $32.64 billion, a P/E ratio of 36.26, a price-to-earnings growth ratio of 2.11 and a beta of 1.28. The company has a 50-day simple moving average of $120.50 and a 200-day simple moving average of $127.94. Arista Networks has a 12 month minimum of $82.94 and a 12 month maximum of $148.57.
About Arista Networks (Get a rating)
Arista Networks, Inc develops, markets and sells cloud networking solutions in America, Europe, the Middle East, Africa and Asia-Pacific. The company’s cloud networking solutions consist of extensible operating systems, a set of network applications, and Gigabit Ethernet switching and routing platforms.
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