$530.06 Million in Sales Expected for Arista Networks Inc (NYSE:ANET) This Quarter

Brokerages expect that Arista Networks Inc (NYSE:ANET) will report sales of $530.06 million for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Arista Networks’ earnings, with the highest sales estimate coming in at $535.10 million and the lowest estimate coming in at $525.01 million. Arista Networks reported sales of $608.32 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, August 6th.

On average, analysts expect that Arista Networks will report full year sales of $2.22 billion for the current fiscal year, with estimates ranging from $2.16 billion to $2.27 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.56 billion, with estimates ranging from $2.32 billion to $2.74 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Arista Networks.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.21. Arista Networks had a net margin of 35.61% and a return on equity of 24.82%. The business had revenue of $523.00 million during the quarter, compared to the consensus estimate of $517.45 million. During the same period in the previous year, the firm posted $2.31 earnings per share. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year.

Several research firms have recently commented on ANET. Bank of America lifted their price objective on shares of Arista Networks from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. William Blair restated an “outperform” rating on shares of Arista Networks in a research report on Wednesday, May 6th. Nomura Securities decreased their target price on shares of Arista Networks from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. JPMorgan Chase & Co. upgraded shares of Arista Networks from an “underweight” rating to a “neutral” rating and set a $182.00 target price for the company in a research report on Wednesday, March 4th. Finally, Piper Sandler downgraded shares of Arista Networks from an “overweight” rating to a “neutral” rating in a research report on Sunday, April 19th. Nineteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $218.04.

In other Arista Networks news, SVP Kenneth Duda sold 1,089 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $168.99, for a total value of $184,030.11. Following the sale, the senior vice president now directly owns 5,294 shares of the company’s stock, valued at approximately $894,633.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nikos Theodosopoulos sold 1,360 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $224.50, for a total transaction of $305,320.00. Following the completion of the sale, the director now directly owns 4,360 shares in the company, valued at $978,820. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,445 shares of company stock worth $9,174,663. Insiders own 23.77% of the company’s stock.

Large investors have recently made changes to their positions in the business. Capital Advisory Group Advisory Services LLC purchased a new position in Arista Networks during the 1st quarter worth $34,000. Pearl River Capital LLC purchased a new position in Arista Networks during the 1st quarter worth $35,000. Laurel Wealth Advisors LLC grew its position in Arista Networks by 38.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 180 shares of the technology company’s stock worth $37,000 after purchasing an additional 50 shares during the last quarter. Eudaimonia Partners LLC purchased a new position in Arista Networks during the 1st quarter worth $39,000. Finally, EPG Wealth Management LLC purchased a new position in Arista Networks during the 1st quarter worth $42,000. 61.67% of the stock is currently owned by institutional investors.

Shares of NYSE:ANET traded up $4.86 on Wednesday, hitting $227.21. 465,121 shares of the company were exchanged, compared to its average volume of 887,286. Arista Networks has a 1-year low of $156.63 and a 1-year high of $289.45. The stock’s 50 day moving average price is $213.34 and its 200 day moving average price is $205.68. The company has a current ratio of 5.82, a quick ratio of 5.37 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $16.75 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 2.78 and a beta of 1.13.

About Arista Networks

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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Earnings History and Estimates for Arista Networks (NYSE:ANET)

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