Zacks Investment Research upgraded shares of Arista Networks (NYSE:ANET) from a sell rating to a hold rating in a research note published on Monday morning, Zacks.com reports. The brokerage currently has $284.00 price objective on the technology company’s stock.

According to Zacks, “Arista continues benefiting from the expanding cloud networking market led by strong demand for scalable infrastructure. The company aims to sustain revenue growth and healthy cash generation in 2019 and beyond on the back of industry-leading product offerings that enable seamless integration with third-party applications for network management, automation and orchestration. Arista’s strategy of leveraging merchant silicon from multiple suppliers has expanded product portfolio and increased its ability to offer products at cheaper prices. However, Arista faces stiff competition in the cloud networking space, particularly from Cisco. Continued lawsuits have been a nagging concern. It has been forced to bring down much of manufacturing in the United States, which along with redesigning of products, has led to loss of time and hurt gross margin.”

A number of other equities analysts have also issued reports on the company. Piper Jaffray Companies set a $10.00 price objective on Mammoth Energy Services and gave the stock a buy rating in a report on Friday, June 7th. Stifel Nicolaus set a $95.00 price target on C.H. Robinson Worldwide and gave the company a buy rating in a research note on Friday, May 3rd. KeyCorp decreased their price target on PolyOne from $36.00 to $34.00 and set an overweight rating for the company in a research note on Thursday, April 18th. Morgan Stanley set a $156.00 price target on Mongodb and gave the company a hold rating in a research note on Friday, June 7th. Finally, MKM Partners increased their price target on Arista Networks to $295.00 and gave the company a neutral rating in a research note on Monday, May 6th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $311.96.

ANET stock traded up $1.51 on Monday, reaching $271.90. The company’s stock had a trading volume of 535,782 shares, compared to its average volume of 929,389. Arista Networks has a 52 week low of $187.08 and a 52 week high of $331.27. The company has a market capitalization of $20.71 billion, a P/E ratio of 38.45, a P/E/G ratio of 1.71 and a beta of 1.56. The business has a fifty day simple moving average of $253.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.34 and a quick ratio of 4.70.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.24. Arista Networks had a return on equity of 29.36% and a net margin of 30.36%. The business had revenue of $595.42 million during the quarter, compared to analyst estimates of $595.21 million. During the same period in the prior year, the company posted $1.66 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. Research analysts anticipate that Arista Networks will post 8.4 earnings per share for the current fiscal year.

In other news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction on 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 owns 14,150 shares in the company, valued at approximately $3,725,978. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 83 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $323.00, for a total value of $26,809.00. The disclosure for this sale can be found here. Insiders have sold a total of 217,690 shares of company stock valued at $56,990,982 in the last quarter. Insiders own 23.83% of the company’s stock.

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Arista Networks by 5.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,503 shares of the technology company’s stock valued at $1,370,000 after purchasing an additional 309 shares in the last quarter. Castle Rock Wealth Management LLC grew its holdings in shares of Arista Networks by 22.8% in the fourth quarter. Castle Rock Wealth Management LLC now owns 2,046 shares of the technology company’s stock valued at $458,000 after purchasing an additional 380 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Arista Networks by 17.8% in the fourth quarter. Private Advisor Group LLC now owns 1,849 shares of the technology company’s stock valued at $389,000 after purchasing an additional 279 shares in the last quarter. Stephens Inc. AR boosted its stake in Arista Networks by 45.7% during the fourth quarter. Stephens Inc. AR now owns 1,384 shares of the technology company’s stock worth $292,000 after buying an additional 434 shares during the period. Finally, Raymond James & Associates boosted its stake in Arista Networks by 32.2% during the fourth quarter. Raymond James & Associates now owns 25,809 shares of the technology company’s stock worth $5,438,000 after buying an additional 6,289 shares during the period. Institutional investors own 57.94% of the company’s stock.

Arista Networks Company Profile

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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