Wells Fargo & Company Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price
Wells Fargo & Company has raised its target price for Arista Networks (NYSE:ANET) from $150.00 to $175.00, maintaining an "overweight" rating. This suggests a potential upside of 14.06% from the current price. Other analysts have also increased their price targets, with Wolfe Research setting it at $185.00 and Needham & Company at $155.00. The stock has a consensus rating of "Moderate Buy" and an average price target of $148.07. Arista Networks reported strong earnings, exceeding expectations with $0.73 EPS and $2.20 billion in revenue for the last quarter.
Arista Networks (NYSE:ANET - Get Free Report) had its price target increased by Wells Fargo & Company from $150.00 to $175.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Wells Fargo & Company's price target would suggest a potential upside of 14.06% from the company's current price.
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A number of other analysts have also recently issued reports on ANET. Wolfe Research increased their target price on Arista Networks from $160.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday. Needham & Company LLC upped their price target on Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Citigroup upped their price target on Arista Networks from $123.00 to $136.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wedbush assumed coverage on Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating for the company. Finally, BNP Paribas Exane downgraded Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target for the company. in a research report on Wednesday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $148.07.
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Arista Networks Stock Performance
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NYSE ANET opened at $153.43 on Friday. The business has a 50 day simple moving average of $126.11 and a 200 day simple moving average of $99.86. Arista Networks has a 52-week low of $59.43 and a 52-week high of $156.32. The stock has a market cap of $192.84 billion, a price-to-earnings ratio of 60.35, a PEG ratio of 3.54 and a beta of 1.50.
Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the prior year, the business earned $0.53 EPS. Arista Networks's revenue for the quarter was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. On average, analysts predict that Arista Networks will post 2.2 EPS for the current year.
Insider Activity at Arista Networks
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In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value of $243,175,176.30. Following the transaction, the chief executive officer directly owned 5,698,074 shares in the company, valued at $776,191,640.28. The trade was a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 6,334,926 shares of company stock valued at $795,392,998 in the last 90 days. 3.39% of the stock is owned by insiders.
Hedge Funds Weigh In On Arista Networks
Several institutional investors and hedge funds have recently modified their holdings of the stock. American Trust increased its holdings in shares of Arista Networks by 49.6% in the second quarter. American Trust now owns 17,671 shares of the technology company's stock valued at $1,808,000 after purchasing an additional 5,862 shares during the last quarter. Centaurus Financial Inc. increased its holdings in shares of Arista Networks by 5.3% in the second quarter. Centaurus Financial Inc. now owns 12,490 shares of the technology company's stock valued at $1,278,000 after purchasing an additional 631 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Arista Networks by 77.2% in the second quarter. Thrivent Financial for Lutherans now owns 548,356 shares of the technology company's stock valued at $55,909,000 after purchasing an additional 238,837 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Arista Networks during the second quarter worth $4,373,000. Finally, Stance Capital LLC acquired a new stake in shares of Arista Networks during the second quarter worth $1,426,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.
About Arista Networks
(Get Free Report)Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.
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