Earnings results for Arista Networks (NYSE:ANET)
Arista Networks, Inc. is expected* to report earnings on 08/02/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.17. The reported EPS for the same quarter last year was $1.74.
Arista Networks last posted its quarterly earnings results on May 3rd, 2021. The technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.12. The company earned $667.56 million during the quarter, compared to analyst estimates of $642.57 million. Its quarterly revenue was up 27.6% on a year-over-year basis. Arista Networks has generated $8.09 earnings per share over the last year ($8.53 diluted earnings per share) and currently has a price-to-earnings ratio of 44.7. Earnings for Arista Networks are expected to grow by 11.99% in the coming year, from $8.76 to $9.81 per share. Arista Networks has confirmed that its next quarterly earnings report will be published on Monday, August 2nd, 2021. Arista Networks will be holding an earnings conference call on Monday, August 2nd at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link.
Analyst Opinion on Arista Networks (NYSE:ANET)
21 Wall Street analysts have issued ratings and price targets for Arista Networks in the last 12 months. Their average twelve-month price target is $348.80, predicting that the stock has a possible downside of 8.45%. The high price target for ANET is $424.00 and the low price target for ANET is $270.00. There are currently 7 hold ratings and 14 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Arista Networks has received a consensus rating of Buy. The company’s average rating score is 2.67, and is based on 14 buy ratings, 7 hold ratings, and no sell ratings. According to analysts’ consensus price target of $348.80, Arista Networks has a forecasted downside of 8.5% from its current price of $381.01. Arista Networks has only been the subject of 4 research reports in the past 90 days.
Dividend Strength: Arista Networks (NYSE:ANET)
Arista Networks does not currently pay a dividend. Arista Networks does not have a long track record of dividend growth.
Insiders buying/selling: Arista Networks (NYSE:ANET)
In the past three months, Arista Networks insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $30,744,433.00 in company stock. 22.01% of the stock of Arista Networks is held by insiders. A high percentage of insider ownership can be a sign of company health. 61.58% of the stock of Arista Networks is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Arista Networks (NYSE:ANET
Earnings for Arista Networks are expected to grow by 11.99% in the coming year, from $8.76 to $9.81 per share. The P/E ratio of Arista Networks is 44.67, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.24. The P/E ratio of Arista Networks is 44.67, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 50.17. Arista Networks has a PEG Ratio of 3.38. PEG Ratios above 1 indicate that a company could be overvalued. Arista Networks has a P/B Ratio of 8.68. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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