Arista Networks Inc (NYSE:ANET) does about 2.71M shares in volume on a normal day but saw 3834316 shares change hands in Tuesday’s trading. The company now has a market cap of 85.93B USD. Its current market price is $273.99, marking a decrease of -1.73% compared to the previous close of $278.82. The 52 week high reached by this stock is $307.74 whilst the lowest price level in 52 weeks is $133.42.
Arista Networks Inc (ANET) has a 20-day trading average at $264.50 and the current price is -10.97% off the 52-week high compared with 105.36% distance from its 52-week low. The 50-day simple moving average of the closing price is $278.83 and its 200-day simple moving average is $229.80. If we look at the stock’s price movements over the week, volatility stands at 2.80%, which increases to 3.57% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 52.62 to suggest the stock is neutral.
The consensus objective for the share price is $301.39, suggesting that the stock has a potential upside of 9.09% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on May 03, 2024 when Jefferies upgraded the stock to “Buy” and issued a price target of between $240 and $320. Rosenblatt downgraded the stock to “Sell” from Buy on April 12, 2024 at a price target of $210.
Arista Networks Inc (ANET) stock is up 6.79% over the week and -7.87% over the past month. Its price is 16.34% year-to-date and 98.57% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/31/2023, with the company’s earnings per share (EPS) of 1.43 above consensus estimates by 0.09. The company’s next earnings report forecasts estimating quarterly EPS at 1.74 and 7.51 for whole year. Expected sales for next quarter are $1.62B, which analysts say will come at $6.61B for the current fiscal year and next year at $7.6B. In addition, estimates put the company’s current quarterly revenue at an average of $1.55B.
To reach the target analysts have set, the stock logically needs to grow 9.09 percent from here.
The company has a return on investment of 28.74% and return on equity of 34.49%. The price to earnings ratio (P/E ratio) amounts to 41.65 while the forward price to earnings ratio is 31.93. The beta has a value of 1.06. Price to book ratio is 11.85 and price to sales ratio is 14.66.
