ANET

Jefferies Upgrades Arista Networks (ANET)

Fintel reports that on May 3, 2024, Jefferies upgraded their outlook for Arista Networks (NYSE:ANET) from Hold to Buy.

Analyst Price Forecast Suggests 13.99% Upside

As of May 2, 2024, the average one-year price target for Arista Networks is 298.50. The forecasts range from a low of 212.10 to a high of $373.80. The average price target represents an increase of 13.99% from its latest reported closing price of 261.86.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Arista Networks is 6,021MM, an increase of 2.74%. The projected annual non-GAAP EPS is 6.03.

What is the Fund Sentiment?

There are 2,194 funds or institutions reporting positions in Arista Networks. This is an increase of 198 owner(s) or 9.92% in the last quarter. Average portfolio weight of all funds dedicated to ANET is 0.43%, an increase of 0.85%. Total shares owned by institutions increased in the last three months by 0.41% to 242,306K shares. ANET / Arista Networks, Inc. Put/Call Ratios The put/call ratio of ANET is 0.95, indicating a bullish outlook.

What are Other Shareholders Doing?

ANET / Arista Networks, Inc. Shares Held by Institutions

Capital World Investors holds 10,136K shares representing 3.23% ownership of the company. In its prior filing, the firm reported owning 10,081K shares , representing an increase of 0.55%. The firm increased its portfolio allocation in ANET by 15.59% over the last quarter.

Cresset Asset Management holds 9,443K shares representing 3.01% ownership of the company. In its prior filing, the firm reported owning 10,648K shares , representing a decrease of 12.76%. The firm increased its portfolio allocation in ANET by 71.96% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,816K shares representing 2.49% ownership of the company. In its prior filing, the firm reported owning 7,222K shares , representing an increase of 7.60%. The firm increased its portfolio allocation in ANET by 23.83% over the last quarter.

Alliancebernstein holds 7,465K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 7,386K shares , representing an increase of 1.06%. The firm increased its portfolio allocation in ANET by 17.07% over the last quarter.

Jpmorgan Chase holds 6,581K shares representing 2.10% ownership of the company. In its prior filing, the firm reported owning 2,534K shares , representing an increase of 61.49%. The firm increased its portfolio allocation in ANET by 189.55% over the last quarter.

Arista Networks Background Information
(This description is provided by the company.)

Arista Networks is an industry leader in software-driven cloud networking solutions for large data center and campus environments. Arista's award-winning platforms deliver availability, agility, automation analytics and security through CloudVision® and Arista EOS®, an advanced network operating system.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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