A share price of Arista Networks Inc [ANET] is currently trading at $273.74, up 2.27%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The ANET shares have gain 4.58% over the last week, with a monthly amount glided 3.52%, and seem to be holding up well over a long-time horizon.
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On 12, February 2024, Arista Networks, Inc. Reports Fourth Quarter and Year End 2023 Financial Results. In a post published today on Yahoo Finance, 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.
From an analyst’s perspective:
Arista Networks Inc [NYSE: ANET] stock has seen the most recent analyst activity on January 08, 2024, when Melius upgraded its rating to a Buy. Previously, Citigroup reaffirmed its Buy rating on December 14, 2023, and elevated its price target to $300. On October 31, 2023, upgrade upgraded it’s rating to Overweight and revised its price target to $220 on the stock. Piper Sandler downgraded its rating to a Neutral but stick to its price target of $190 on October 11, 2023. Citigroup upgraded its rating to a Buy and raised its price target to $220 on August 31, 2023. Exane BNP Paribas started tracking with a Outperform rating for this stock on July 20, 2023, and assigned it a price target of $210. In a note dated June 30, 2023, Citigroup initiated an Neutral rating and provided a target price of $160 on this stock.
Arista Networks Inc experienced fluctuations in its stock price throughout the past year between $131.68 and $292.66. Currently, Wall Street analysts expect the stock to reach $164.17 within the next 12 months. Arista Networks Inc [NYSE: ANET] shares were valued at $273.74 at the most recent close of the market. An investor can expect a potential drop of -40.03% based on the average ANET price forecast.
Analyzing the ANET fundamentals
Trailing Twelve Months sales for Arista Networks Inc [NYSE:ANET] were 5.86B which represents 20.77% growth. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 269.15 points at the first support level, and at 264.57 for the second support level. However, for the 1st resistance point, the stock is sitting at 277.77, and for the 2nd resistance point, it is at 281.80.
Arista Networks Inc [ANET] reported earnings per share of $2.08 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.7/share, meaning a difference of $0.38 and a surprise factor of 22.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.83 per share as compared to estimates of $1.58 per share, a difference of $0.25 representing a surprise of 15.80%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Arista Networks Inc [NYSE:ANET] is 4.39. As well, the Quick Ratio is 3.31, while the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 14.60, the price to book ratio is 11.84 and price to earnings (TTM) ratio is 41.61.
Transactions by insiders
Recent insider trading involved McCool John F, Chief Platform Officer, that happened on Feb 22 when 5374.0 shares were sold. Director, Wassenaar Yvonne completed a deal on Feb 21 to sell 224.0 shares. Meanwhile, Chief Platform Officer McCool John F sold 72.0 shares on Feb 16.
