During the recent session, Arista Networks Inc. (NYSE:ANET)’s traded shares were 2.86 million, with the beta value of the company hitting 1.28. At the last check today, the stock’s price was $152.65, reflecting an intraday gain of 8.09% or $11.43. The 52-week high for the ANET share is $171.44, that puts it down -12.31 from that peak though still a striking 41.62% gain since the share price plummeted to a 52-week low of $89.11. The company’s market capitalization is $42.79B, and the average intraday trading volume over the past 10 days was 2.48 million shares, and the average trade volume was 2.86 million shares over the past three months.
Arista Networks Inc. (ANET) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. ANET has a Sell rating from 1 analyst(s) out of 25 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 14 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.43.
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Arista Networks Inc. (NYSE:ANET) trade information
Arista Networks Inc. (ANET) registered a 8.09% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.09% in intraday trading to $152.65 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 7.91%, and it has moved by -2.12% in 30 days. Based on these gigs, the overall price performance for the year is 53.12%. The short interest in Arista Networks Inc. (NYSE:ANET) is 4.04 million shares and it means that shorts have 1.73 day(s) to cover.
The consensus price target of analysts on Wall Street is $172.42, which implies an increase of 11.47% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $135.00 and $213.00 respectively. As a result, ANET is trading at a discount of -39.53% off the target high and 11.56% off the low.
Arista Networks Inc. (ANET) estimates and forecasts
Statistics show that Arista Networks Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Arista Networks Inc. (ANET) shares have gone up 12.21% during the last six months, with a year-to-date growth rate more than the industry average at 28.38% against 1.60. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 32.40% this quarter and then jump 17.60% in the quarter after that. In the rating firms’ projections, revenue will increase 26.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.38 billion as predicted by 17 analyst(s). Meanwhile, a consensus of 17 analyst(s) estimates revenue growth to $1.39 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.05 billion and $1.18 billion respectively. In this case, analysts expect current quarter sales to grow by 30.90% and then jump by 17.90% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 23.30%. While earnings are projected to return 62.30% in 2023, the next five years will return 9.98% per annum.
Arista Networks Inc. is due to release its next quarterly earnings between July 31 and August 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Arista Networks Inc. (NYSE:ANET)’s Major holders
Arista Networks Inc. insiders own 22.96% of total outstanding shares while institutional holders control 71.49%, with the float percentage being 92.79%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,294 institutions own stock in it. As of Mar 30, 2023, the company held over 27.22 million shares (or 8.83% of all shares), a total value of $4.57 billion in shares.
The next largest institutional holding, with 18.73 million shares, is of Blackrock Inc.’s that is approximately 6.08% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $3.14 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Arista Networks Inc. (ANET) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 6.96 million shares. This amounts to just over 2.27 percent of the company’s overall shares, with a $845.14 million market value. The same data shows that the other fund manager holds slightly less at 5.72 million, or about 1.87% of the stock, which is worth about $694.3 million.