Arista Networks Inc (NYSE:ANET) saw an upside of 2.06% to $181.59 after adding $3.67 on Wednesday. The 5-day average trading volume is 1,383,318 shares of the company’s common stock. It has gained $183.83 in the past week and touched a new high 3 times within the past 5 days. An average of 1,670,005 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,592,286.
ANET’s 1-month performance is -0.20% or $1.00 on its low of $177.02 reached on 09/21/23. The company’s shares have touched a 52-week low of $98.20 and high of $198.70, with the stock’s rally to the 52-week high happening on 09/01/23. YTD, ANET has achieved 49.64% or $60.55 and has reached a new high 25 times. However, the current price is down -8.61% from the 52-week high price.
Insider Transactions
ANET stock investors last saw insider trading activity on Sep 14.Giancarlo Charles H (Director) most recently sold 2,000 shares at $188.52 per share on Sep 14. This transaction cost the insider $377,044. CTO and SVP Software Eng., Duda Kenneth, sold 20,000 shares at a price of $191.09 on Sep 12. Then, on Sep 12, CTO and SVP Software Eng. Duda Kenneth sold 16,000 shares at a price of $191.09 per share. This transaction amounted to $3,057,393.
Valuation Metrics
ANET stock has a beta of 1.18. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 10.68 while the price-to-book (PB) in the most recent quarter is 9.59, with the price to cash flow ratio at 59.49.
Arista Networks Inc’s quick ratio for the period ended June 29 was 2.83, with the current ratio over the same period at 4.14. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.01, while the total debt to equity was 0.01. In terms of profitability, the gross margin trailing 12 months is 60.18%. The firm’s gross profit as reported stood at $2.68 billion against revenue of $4.38 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 39.19% to $491.89 million, while revenue of $436.47 million was 11.27% off the previous quarter. Analysts expected ANET to announce $1.44 per share in earnings in its latest quarter, but it posted $1.58, representing a 9.70% surprise. EBITDA for the quarter stood at more than $540.61 million. ANET stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.33 billion, with total debt at $51.7 million. Shareholders hold equity totaling $309.58 million.
Let’s look briefly at Arista Networks Inc (ANET) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 44.68% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.18%.
The stock’s 5-day moving average is $179.84, reflecting a -0.47% or -$0.85 change from its current price. ANET is currently trading -1.91% above its 20-day SMA, +34.40% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +4.84% and SMA200 by+41.97%.
Stochastic %K and %D was 15.34% and 13.70% and the average true range (ATR) pointed at 4.92. The RSI (14) points at 47.10%, while the 14-day stochastic is at 22.59% with the period’s ATR at 5.16. The stock’s 9-day MACD Oscillator is pointing at -1.61 and -4.80 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Arista Networks Inc (NYSE: ANET), Citigroup upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for ANET stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ANET as a “sell,”, while 9 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 15 have offered a “buy” rating.
What is ANET’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $160.00 and a high of $230.00, with their median price target at $201.00. Looking at these predictions, the average price target given by analysts is for Arista Networks Inc (ANET) stock is $203.10.
