Latest Stocks: Somewhat Favorable Press Coverage Unlikely to Affect Arista Networks (ANET) Share Price

Latest Stocks: Somewhat Favorable Press Coverage Unlikely to Affect Arista Networks (ANET) Share Price

Media stories about Arista Networks (NYSE:ANET) have trended somewhat positive on Tuesday, according to Alpha One Sentiment Analysis. Alpha One, a service of Accern, identifies positive and negative news coverage by analyzing more than 20 million blog and news sources in real-time. Alpha One ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Arista Networks earned a news sentiment score of 0.23 on Alpha One’s scale. Alpha One also gave media headlines about the technology company an impact score of 35 out of 100, indicating that recent news coverage is unlikely to have an impact on the stock’s share price in the near term.

These are some of the media headlines that may have effected Alpha One’s scoring:

A number of research analysts have recently weighed in on ANET shares. MKM Partners restated a “neutral” rating and set a $125.00 price target (up previously from $100.00) on shares of Arista Networks in a report on Tuesday, May 9th. Stifel Nicolaus reiterated a “buy” rating on shares of Arista Networks in a research note on Wednesday, February 8th. Cowen and Company reiterated an “outperform” rating and issued a $123.00 target price on shares of Arista Networks in a research note on Tuesday, March 14th. Barclays PLC reiterated a “buy” rating and issued a $161.00 target price on shares of Arista Networks in a research note on Monday, May 15th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $160.00 price target on shares of Arista Networks in a research report on Monday. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $130.41. Shares of Arista Networks (NYSE ANET) opened at 154.33 on Tuesday. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 49.85 and a beta of 1.15. Arista Networks has a 52-week low of $60.51 and a 52-week high of $154.89. The firm’s 50-day moving average is $142.95 and its 200 day moving average is $117.13.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.09. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The business had revenue of $335.48 million for the quarter, compared to analysts’ expectations of $326.19 million. During the same period in the previous year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts anticipate that Arista Networks will post $3.94 earnings per share for the current year. In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $147.51, for a total transaction of $295,020.00. Following the completion of the transaction, the senior vice president now owns 11,775 shares of the company’s stock, valued at approximately $1,736,930.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Scheinman sold 833 shares of Arista Networks stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $151.68, for a total value of $126,349.44. Following the transaction, the director now directly owns 52,500 shares of the company’s stock, valued at approximately $7,963,200. The disclosure for this sale can be found here. Insiders sold a total of 388,340 shares of company stock worth $56,486,801 over the last 90 days. 32.39% of the stock is currently owned by company insiders.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.09. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The business had revenue of $335.48 million for the quarter, compared to analysts’ expectations of $326.19 million. During the same period in the previous year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts anticipate that Arista Networks will post $3.94 earnings per share for the current year. Arista Networks Company Profile

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