$593.57 Million in Sales Expected for Arista Networks Inc (ANET) This Quarter

Equities analysts expect that Arista Networks Inc (NYSE:ANET) will post $593.57 million in sales for the current quarter, according to Zacks. Ten analysts have provided estimates for Arista Networks’ earnings. The highest sales estimate is $597.20 million and the lowest is $587.85 million. Arista Networks reported sales of $472.49 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.6%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, May 2nd.

On average, analysts expect that Arista Networks will report full-year sales of $2.64 billion for the current financial year, with estimates ranging from $2.51 billion to $2.72 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.16 billion, with estimates ranging from $2.88 billion to $3.33 billion. Zacks’ 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 announced its quarterly earnings data on Thursday, February 14th. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.45. Arista Networks had a return on equity of 29.37% and a net margin of 29.47%. The business had revenue of $595.70 million for the quarter, compared to analysts’ expectations of $591.41 million. During the same period last year, the firm earned $1.71 earnings per share. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year.

A number of research firms have weighed in on ANET. Rosenblatt Securities initiated coverage on Arista Networks in a research note on Friday, March 29th. They issued a “neutral” rating and a $330.00 price target on the stock. Nomura raised Arista Networks from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Friday, January 18th. Morgan Stanley upgraded Arista Networks from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $290.00 to $250.00 in a research note on Monday, January 7th. ValuEngine downgraded Arista Networks from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $299.61.

In other Arista Networks news, COO Anshul Sadana sold 4,129 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $317.60, for a total transaction of $1,311,370.40. Following the completion of the sale, the chief operating officer now directly owns 1,893 shares in the company, valued at $601,216.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 198 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $292.97, for a total value of $58,008.06. Following the completion of the transaction, the chief executive officer now owns 10,425 shares in the company, valued at $3,054,212.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,353 shares of company stock valued at $62,321,980. Company insiders own 24.95% of the company’s stock.

Large investors have recently modified their holdings of the company. CENTRAL TRUST Co lifted its position in Arista Networks by 53.3% during the fourth quarter. CENTRAL TRUST Co now owns 141 shares of the technology company’s stock valued at $29,000 after buying an additional 49 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Arista Networks by 0.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,580 shares of the technology company’s stock valued at $2,229,000 after acquiring an additional 64 shares during the period. First United Bank Trust lifted its holdings in shares of Arista Networks by 1.4% during the 4th quarter. First United Bank Trust now owns 5,156 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 71 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of Arista Networks by 37.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 352 shares of the technology company’s stock valued at $74,000 after acquiring an additional 96 shares in the last quarter. Finally, Securian Asset Management Inc boosted its position in Arista Networks by 1.9% during the 4th quarter. Securian Asset Management Inc now owns 5,400 shares of the technology company’s stock worth $1,138,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 56.33% of the company’s stock.

NYSE ANET traded up $5.84 during trading hours on Wednesday, hitting $316.90. 585,499 shares of the company were exchanged, compared to its average volume of 851,559. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.48 and a quick ratio of 4.04. The company has a market cap of $23.41 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.51. Arista Networks has a 52-week low of $187.08 and a 52-week high of $325.00.

Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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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