Arista Networks Inc. (NYSE: ANET) stock jumped 0.53% on Wednesday to $141.22 against a previous-day closing price of $140.47. With 3.11 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.83 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $142.88 whereas the lowest price it dropped to was $139.18. The 52-week range on ANET shows that it touched its highest point at $171.44 and its lowest point at $89.11 during that stretch. It currently has a 1-year price target of $166.88. Beta for the stock currently stands at 1.28.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ANET was up-trending over the past week, with a rise of 3.97%, but this was down by -8.05% over a month. Three-month performance surged to 3.20% while six-month performance rose 4.91%. The stock gained 38.04% in the past year, while it has gained 16.37% so far this year. A look at the trailing 12-month EPS for ANET yields 4.81 with Next year EPS estimates of 6.70. For the next quarter, that number is 1.43. This implies an EPS growth rate of 62.30% for this year and 10.30% for next year. EPS is expected to grow by 9.98% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 23.30%.
Float and Shares Shorts:
At present, 306.99 million ANET shares are outstanding with a float of 234.12 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.04 million, which was 1.31% higher than short shares on Mar 30, 2023. In addition to Dr. Andreas B. Bechtolsheim Ph.D. as the firm’s Co-Founder, Chairman & Chief Devel. Officer, Ms. Jayshree V. Ullal serves as its Pres, CEO & Director.
Through their ownership of 71.49% of ANET’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.71% of ANET, in contrast to 29.08% held by mutual funds. Shares owned by individuals account for 21.14%. As the largest shareholder in ANET with 8.54% of the stake, The Vanguard Group, Inc. holds 26,173,161 shares worth 26,173,161. A second-largest stockholder of ANET, BlackRock Fund Advisors, holds 12,942,291 shares, controlling over 4.22% of the firm’s shares. First Republic Investment Managem is the third largest shareholder in ANET, holding 11,392,099 shares or 3.72% stake. With a 2.33% stake in ANET, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 7,141,683 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 1.90% of ANET stock, is the second-largest Mutual Fund holder. It holds 5,809,704 shares valued at 930.48 million. Vanguard Mid Cap Index Fund holds 1.75% of the stake in ANET, owning 5,364,862 shares worth 859.24 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, ANET reported revenue of $1.05B and operating income of $362.85M. The EBITDA in the recently reported quarter was $377.77M and diluted EPS was $0.94.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ANET since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ANET analysts setting a high price target of $213.00 and a low target of $135.00, the average target price over the next 12 months is $172.42. Based on these targets, ANET could surge 50.83% to reach the target high and fall by -4.4% to reach the target low. Reaching the average price target will result in a growth of 22.09% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ANET stock several times over the past three months with 32 Buys and 71 Sells. In these transactions, 134,452 shares were bought while 387,406 shares were sold. The number of buy transactions has increased to 277 while that of sell transactions has risen to 332 over the past year. The total number of shares bought during that period was 1,811,536 while 3,133,469 shares were sold.