Monthly Stock Report: Arista Networks, Inc. (ANET)
Publication Date: September 22, 2024
Company Overview
Arista Networks, Inc. (ANET) is a leading technology company based in Santa Clara, California, renowned for its data-driven client-to-cloud networking solutions. Established in 2004, Arista operates on a global scale, catering to markets across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region. The company specializes in advanced cloud networking technologies through its Extensible Operating System (EOS) and AI ethernet switching platforms, delivering comprehensive solutions for data centers and campuses. Arista serves various sectors, including financial services, media, telecommunications, and government, utilizing an extensive sales network comprising distributors and value-added resellers. Classified under the Computer Hardware industry and Technology sector, Arista showcases strong financial fundamentals, evidenced by a total revenue of approximately $6.31 billion, marking it as a formidable player in the tech market.
Financial Performance & Analyst Sentiment
As of the latest reporting, Arista Networks boasts a stock price of $384.46. This reflects a solid position within the market, particularly when considering a target high price set by analysts at $425.00, suggesting a potential upside of approximately 10.5%. The consensus among analysts leans toward a “buy” rating, reflecting confident expectations for the company’s future performance and growth potential. The firm has a total of 314,152,992 shares outstanding, with only about 0.0096% sold short, indicating a low level of short interest and a generally positive outlook amongst investors.
The fifty-two week range of the stock reveals considerable volatility, having peaked at $385.50 and dipped to $168.25, demonstrating the company’s capacity for substantial price movement. The current price exceeds the fifty-day moving average of $341.719, thereby reinforcing a bullish trend and showcasing positive momentum amidst market fluctuations. Analysts attribute this performance to Arista’s robust financial health, as evidenced by substantial revenue figures and favorable investment sentiment.
Price Targets & Analyst Consensus
Analysts have established a high target price for Arista Networks at $425.00, with mean and median target prices standing at $358.72 and $362.00, respectively. This range signals positivity regarding the stock’s potential trajectory. With a mean recommendation score of 2.0, based on 18 analyst opinions, the overall sentiment is optimistic, reinforcing the classification of the stock as a “buy.” Investors are encouraged to consider Arista Networks as a promising opportunity within the technology sector, particularly in light of the company’s substantial revenue generation and analyst endorsements.
In summary, with strong financial performance, positive analyst sentiment, and a solid market position, Arista Networks, Inc. emerges as an attractive candidate for investors seeking exposure to growth in the tech arena.
| Metric | Value |
|---|---|
| Market Cap | $120.8b |
| Total Debt | $61.6m |
| Total Cash | $6.3b |
| Shares Outstanding | 314.2m |
| Float Shares | 257.2m |
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