Arista Networks Inc [NYSE: ANET] stock went on an upward path that rose over 14.03% on Tuesday, amounting to a one-week price increase of more than 5.19%. The company report on October 30, 2023 at 4:05 PM that Arista Networks, Inc. Reports Third 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 third quarter ended September 30, 2023.
Over the last 12 months, ANET stock rose by 64.95%. The one-year Arista Networks Inc stock forecast points to a potential upside of 6.37. The average equity rating for ANET stock is currently 1.81, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $62.03 billion, with 306.89 million shares outstanding and 251.73 million shares in the current float. Compared to the average trading volume of 2.34M shares, ANET stock reached a trading volume of 8936956 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $214.00 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 1.81. 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.
Morgan Stanley have made an estimate for Arista Networks Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on Nov-01-23.
The Average True Range (ATR) for Arista Networks Inc is set at 8.13, with the Price to Sales ratio for ANET stock in the period of the last 12 months amounting to 11.09. The Price to Book ratio for the last quarter was 9.58, with the Price to Cash per share for the same quarter was set at 14.39. Price to Free Cash Flow for ANET in the course of the last twelve months was 41.10 with Quick ratio for the last quarter at 3.01.
ANET Stock Performance Analysis:
Arista Networks Inc [ANET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.19. With this latest performance, ANET shares gained by 6.69% in over the last four-week period, additionally plugging by 48.44% over the last 6 months – not to mention a rise of 64.95% 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 59.80, with the RSI for the last a single of trading hit 63.13, and the three-weeks RSI is set at 58.10 for Arista Networks Inc [ANET]. The present Moving Average for the last 50 days of trading for this stock 187.82, while it was recorded at 181.64 for the last single week of trading, and 162.30 for the last 200 days.
Insight into Arista Networks Inc Fundamentals:
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 3.01 and a Current Ratio set at 4.15.
ANET Stock EPS
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%.
Arista Networks Inc [ANET] Institutonal Ownership Details
The top three institutional holders of ANET stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ANET stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ANET stock with ownership which is approximately 5.7994%.