Arista Networks Inc (NYSE:ANET) Expected to Announce Quarterly Sales of $605.84 Million

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Brokerages expect Arista Networks Inc (NYSE:ANET) to announce $605.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Arista Networks’ earnings, with estimates ranging from $601.39 million to $612.60 million. Arista Networks reported sales of $519.85 million in the same quarter last year, which indicates a positive year over year growth rate of 16.5%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, August 1st.

On average, analysts expect that Arista Networks will report full-year sales of $2.54 billion for the current fiscal year, with estimates ranging from $2.49 billion to $2.58 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.00 billion, with estimates ranging from $2.81 billion to $3.16 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Arista Networks.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.24. The firm had revenue of $595.42 million during the quarter, compared to the consensus estimate of $595.21 million. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the firm posted $1.66 EPS.

A number of research analysts recently commented on the stock. KeyCorp lowered their price target on shares of PolyOne from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Nomura raised their target price on shares of PROS from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Credit Suisse Group reaffirmed a “hold” rating and set a $32.00 target price on shares of CRH in a research report on Thursday, April 25th. Piper Jaffray Companies set a $10.00 target price on shares of Mammoth Energy Services and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Goldman Sachs Group set a €76.00 ($88.37) price objective on shares of Symrise and gave the company a “neutral” rating in a report on Thursday, March 21st. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and a consensus price target of $311.96.

In other Arista Networks news, COO Anshul Sadana sold 4,129 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $314.28, for a total value of $1,297,662.12. Following the completion of the sale, the chief operating officer now directly owns 1,893 shares in the company, valued at $594,932.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jayshree Ullal sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $329.03, for a total transaction of $6,580,600.00. Following the completion of the sale, the insider now owns 10,425 shares of the company’s stock, valued at $3,430,137.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 217,690 shares of company stock valued at $56,990,982. 23.83% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Intellectus Partners LLC lifted its position in Arista Networks by 97.8% during the fourth quarter. Intellectus Partners LLC now owns 3,033 shares of the technology company’s stock valued at $639,000 after purchasing an additional 1,500 shares during the period. Castle Rock Wealth Management LLC boosted its position in Arista Networks by 22.8% during the fourth quarter. Castle Rock Wealth Management LLC now owns 2,046 shares of the technology company’s stock worth $458,000 after acquiring an additional 380 shares during the last quarter. Thornburg Investment Management Inc. acquired a new position in Arista Networks in the 1st quarter valued at about $18,463,000. Lido Advisors LLC acquired a new position in Arista Networks in the 1st quarter valued at about $483,000. Finally, Aurora Investment Counsel acquired a new position in Arista Networks in the 4th quarter valued at about $1,808,000. Institutional investors and hedge funds own 57.94% of the company’s stock.

Arista Networks stock traded down $0.22 during mid-day trading on Thursday, hitting $270.17. 18,088 shares of the company were exchanged, compared to its average volume of 932,393. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.34 and a quick ratio of 4.70. The business has a fifty day moving average of $253.41. Arista Networks has a 1-year low of $187.08 and a 1-year high of $331.27. The company has a market capitalization of $20.71 billion, a P/E ratio of 38.21, a PEG ratio of 1.71 and a beta of 1.56.

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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