why Arista Networks Inc. [ANET] is a Good Choice for Investors After New Price Target of $193.47

Arista Networks Inc. [NYSE: ANET] gained 4.35% on the last trading session, reaching $195.23 price per share at the time. The company report on July 31, 2023 at 4:05 PM that Arista Networks, Inc. Reports Second Quarter 2023 Financial Results.

Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client to cloud networking for large data center, campus and routing environments, today announced financial results for its second quarter ended June 30, 2023.

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“Arista again achieves record revenue and profitability for Q2 2023,” said Jayshree Ullal, President and CEO of Arista Networks. “Our customers now represent more than 75 million cumulative cloud networking ports.”.

Arista Networks Inc. represents 308.64 million in outstanding shares, while the company has a total market value of $59.87 billion with the latest information. ANET stock price has been found in the range of $190.44 to $196.76.

If compared to the average trading volume of 3.11M shares, ANET reached a trading volume of 4755460 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Arista Networks Inc. [ANET]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ANET shares is $193.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ANET stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Arista Networks Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on Sep-01-23.

The Average True Range (ATR) for Arista Networks Inc. is set at 6.38, with the Price to Sales ratio for ANET stock in the period of the last 12 months amounting to 11.38. The Price to Book ratio for the last quarter was 10.29, with the Price to Cash per share for the same quarter was set at 12.20. Price to Free Cash Flow for ANET in the course of the last twelve months was 63.34 with Quick ratio for the last quarter at 2.80.

Trading performance analysis for ANET stock

Arista Networks Inc. [ANET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.95. With this latest performance, ANET shares gained by 10.13% in over the last four-week period, additionally plugging by 42.94% over the last 6 months – not to mention a rise of 61.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ANET stock in for the last two-week period is set at 66.15, with the RSI for the last a single of trading hit 70.63, and the three-weeks RSI is set at 63.45 for Arista Networks Inc. [ANET]. The present Moving Average for the last 50 days of trading for this stock 171.29, while it was recorded at 186.13 for the last single week of trading, and 149.28 for the last 200 days.

Arista Networks Inc. [ANET]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Arista Networks Inc. [ANET] shares currently have an operating margin of +34.96 and a Gross Margin at +61.07. Arista Networks Inc.’s Net Margin is presently recorded at +30.87.

Return on Total Capital for ANET is now 34.02, given the latest momentum, and Return on Invested Capital for the company is 30.17. Return on Equity for this stock inclined to 30.51, with Return on Assets sitting at 21.62. When it comes to the capital structure of this company, Arista Networks Inc. [ANET] has a Total Debt to Total Equity ratio set at 1.31. Additionally, ANET Total Debt to Total Capital is recorded at 1.29, with Total Debt to Total Assets ending up at 0.94. Long-Term Debt to Equity for the company is recorded at 0.90, with the Long-Term Debt to Total Capital now at 0.89.

Reflecting on the efficiency of the workforce at the company, Arista Networks Inc. [ANET] managed to generate an average of $374,431 per employee. Receivables Turnover for the company is 5.94 with a Total Asset Turnover recorded at a value of 0.70.Arista Networks Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 4.10.

Arista Networks Inc. [ANET]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ANET. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Arista Networks Inc. go to 9.98%.

An analysis of Institutional ownership at Arista Networks Inc. [ANET]

The top three institutional holders of ANET stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in ANET stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in ANET stock with ownership which is approximately 5.7381%.

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