Arista Networks Inc [NYSE: ANET] traded at a low on Monday, posting a -0.56 loss after which it closed the day’ session at $280.88. The company report on February 12, 2024 at 4:05 PM that Arista Networks, Inc. Reports Fourth Quarter and Year End 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 fourth quarter and the full year ended December 31, 2023.
“I am truly honored to be a part of the leadership team that will drive Arista 2.0 products and technology for enterprise, cloud and AI customers,” said incoming CFO Chantelle Breithaupt. “As we enter 2024, we remain focused on satisfying their most demanding requirements with our compelling, innovative networking solutions.”.
The results of the trading session contributed to over 9120109 shares changing hands. Over the past one week, the price volatility of Arista Networks Inc stands at 3.33% while the volatility over the past one month is 2.45%.
The market cap for ANET stock reached $87.38 billion, with 306.89 million shares outstanding and 253.47 million shares in the current float. Compared to the average trading volume of 5.14 shares, ANET reached a trading volume of 9120109 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $285.89 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 1.61. 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.
Melius have made an estimate for Arista Networks Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 08, 2024.
The Average True Range (ATR) for Arista Networks Inc is set at 7.85, with the Price to Sales ratio for ANET stock in the period of the last 12 months amounting to 15.62. The Price to Book ratio for the last quarter was 13.43, with the Price to Cash per share for the same quarter was set at 14.32. Price to Free Cash Flow for ANET in the course of the last twelve months was 57.90 with Quick ratio for the last quarter at 3.01.
How has ANET stock performed recently?
Arista Networks Inc [ANET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.90. With this latest performance, ANET shares gained by 11.58% in over the last four-week period, additionally plugging by 60.56% over the last 6 months – not to mention a rise of 105.74% 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 67.38, with the RSI for the last a single of trading hit 67.66, and the three-weeks RSI is set at 67.31 for Arista Networks Inc [ANET]. The present Moving Average for the last 50 days of trading for this stock 245.85, while it was recorded at 274.23 for the last single week of trading, and 194.04 for the last 200 days.
Arista Networks Inc [ANET]: Deeper insight into the fundamentals
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.
Earnings analysis for Arista Networks Inc [ANET]
With the latest financial reports released by the company, Arista Networks Inc posted 1.41/share EPS, while the average EPS was predicted by analysts to be reported at 1.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.50%. 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 19.40%.
Insider trade positions for Arista Networks Inc [ANET]
The top three institutional holders of ANET stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ANET stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ANET stock with ownership which is approximately 5.8325%.
