Reviewing The Case For Arista Networks Inc (ANET) Going Higher

Currently, there are 306.89M common shares owned by the public and among those 253.47M shares have been available to trade.

Insiders at the company have transacted a total of 560 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 242 of these insider trades were purchases, accounting for 1,154,862 shares. Insider sales of the common stock occurred on 318 occasions, with total insider shares sold totaling 1,611,783 shares.

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The company’s stock has a 5-day price change of 2.90% and 32.72% over the past three months. ANET shares are trading 19.26% year to date (YTD), with the 12-month market performance up to 105.74% higher. It has a 12-month low price of $130.08 and touched a high of $284.82 over the same period. ANET has an average intraday trading volume of 5.14 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.10%, 14.82%, and 45.22% respectively.

Institutional ownership of Arista Networks Inc (NYSE: ANET) shares accounts for 68.58% of the company’s 306.89M shares outstanding.

It has a market capitalization of $87.38B and a beta (3y monthly) value of 1.11. The stock’s trailing 12-month PE ratio is 46.74, while the earnings-per-share (ttm) stands at $6.01. The company has a PEG of 2.41 and a Quick Ratio of 3.01 with the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.33% over the week and 2.45% over the month.

Analysts forecast that Arista Networks Inc (ANET) will achieve an EPS of $1.7 for the current quarter, $1.68 for the next quarter and $7.3 for 2024. The lowest estimate earnings-per-share for the quarter is $1.62 while analysts give the company a high EPS estimate of $1.76. Comparatively, EPS for the current quarter was $1.41 a year ago. Earnings per share for the fiscal year are expected to increase by 5.89%, and 13.77% over the next financial year. EPS should shrink at an annualized rate of 19.40% over the next five years, compared to 26.16% over the past 5-year period.

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