Arista Networks Inc [NYSE: ANET] jumped around 3.31 points on Thursday, while shares priced at $284.02 at the close of the session, up 1.18%. The company report on March 5, 2024 at 9:00 AM that Arista Introduces Universal Network Observability.
Arista Networks, Inc (NYSE: ANET), an industry leader in data driven client to cloud networking, today announced a new network observability software offering merging network infrastructure performance and data from compute and server systems-of-record to deliver keen insights into application and workload performance across data center, campus, and wide area networks.
Arista’s CloudVision® Universal Network Observability™ (CV UNO™) system, available as a premium feature license on Arista CloudVision, enables the automation of network, systems, and application/workload visibility, coupled with AI-driven proactive analysis and prescriptive recommendations, which significantly reduces human error, accelerates issue resolution for unforeseen events, and provides precise root cause analysis of network events and their impact on application delivery.
Compared to the average trading volume of 2.22M shares, ANET reached a trading volume of 3104009 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 $300.60 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 1.75. 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. While these analysts kept the previous recommendation, Citigroup raised their target price from $220 to $300. The new note on the price target was released on December 14, 2023, representing the official price target for Arista Networks Inc stock. Previously, the target price had yet another raise from $185 to $220, while Morgan Stanley kept a Overweight rating on ANET stock.
The Average True Range (ATR) for Arista Networks Inc is set at 8.50, with the Price to Sales ratio for ANET stock in the period of the last 12 months amounting to 15.15. The Price to Book ratio for the last quarter was 12.28, with the Price to Cash per share for the same quarter was set at 16.02. Price to Free Cash Flow for ANET in the course of the last twelve months was 44.41 with Quick ratio for the last quarter at 3.31.
How has ANET stock performed recently?
Arista Networks Inc [ANET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.86. With this latest performance, ANET shares gained by 6.97% in over the last four-week period, additionally plugging by 51.00% over the last 6 months – not to mention a rise of 85.45% 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 58.05, with the RSI for the last a single of trading hit 58.38, and the three-weeks RSI is set at 58.39 for Arista Networks Inc [ANET]. The present Moving Average for the last 50 days of trading for this stock 265.66, while it was recorded at 278.14 for the last single week of trading, and 208.35 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 3.31 and a Current Ratio set at 4.39.
Earnings analysis for Arista Networks Inc [ANET]
With the latest financial reports released by the company, Arista Networks Inc posted 1.43/share EPS, while the average EPS was predicted by analysts to be reported at 1.34/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.70%. 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%.
