Arista Networks Inc (ANET) Stock Up 2.90%: Is It a Good Investment?

Arista Networks Inc [ANET] stock is trading at $296.58, up 2.90%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The ANET shares have gain 2.70% over the last week, with a monthly amount glided 5.22%, and seem to be holding up well over a long-time horizon.

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On 9, April 2024, Arista Networks to Announce Q1 2024 Financial Results on Tuesday, May 7th, 2024. In a post published today on Yahoo Finance, Announces participation in upcoming investor events.

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 [ANET] stock has fluctuated between $131.68 and $307.74 over the past year. Currently, Wall Street analysts expect the stock to reach $174.67 within the next 12 months. Arista Networks Inc [NYSE: ANET] shares were valued at $296.58 at the most recent close of the market. An investor can expect a potential drop of -41.11% based on the average ANET price forecast.

Analyzing the ANET fundamentals

Arista Networks Inc [NYSE:ANET] reported sales of 5.86B for the trailing twelve months, which represents a growth of 20.77%. Gross Profit Margin for this corporation currently stands at 0.62% with Operating Profit Margin at 0.39%, Pretax Profit Margin comes in at 0.41%, and Net Profit Margin reading is 0.36%. To continue investigating profitability, this company’s Return on Assets is posted at 0.21, Equity is 0.34 and Total Capital is 0.28. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.01.

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 291.38 points at the first support level, and at 286.19 for the second support level. However, for the 1st resistance point, the stock is sitting at 299.72, and for the 2nd resistance point, it is at 302.87.

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

For context, Arista Networks Inc’s Current Ratio is 4.39. In addition, the Quick Ratio stands at 3.31 and the Cash Ratio stands at 1.02. Considering the valuation of this stock, the price to sales ratio is 15.82, the price to book ratio is 12.83 and price to earnings (TTM) ratio is 45.08.

Transactions by insiders

Recent insider trading involved Ullal Jayshree, President and CEO, that happened on Apr 09 ’24 when 4042.0 shares were sold. President and CEO, Ullal Jayshree completed a deal on Apr 04 ’24 to sell 24000.0 shares. Meanwhile, Chief Platform Officer McCool John F sold 416.0 shares on Apr 04 ’24.

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