The stock price of Arista Networks Inc (NYSE: ANET) has surged by 1.09 when compared to previous closing price of 370.47, but the company has seen a -5.32% decline in its stock price over the last five trading sessions. zacks.com reported 2024-11-15 that The 2024 Q3 earnings cycle is nearing its end, with a handful of S&P 500 companies remaining to report quarterly results. Throughout the period, these three quarterly releases stole the spotlight.
Is It Worth Investing in Arista Networks Inc (NYSE: ANET) Right Now?
Arista Networks Inc (NYSE: ANET) has a higher price-to-earnings ratio of 44.95x compared to its average ratio. ANET has 36-month beta value of 1.10. Analysts have mixed views on the stock, with 11 analysts rating it as a “buy,” 7 as “overweight,” 9 as “hold,” and 1 as “sell.”
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The public float for ANET is 257.94M, and currently, short sellers hold a 1.05% ratio of that float. The average trading volume of ANET on November 19, 2024 was 1.72M shares.
ANET’s Market Performance
ANET’s stock has seen a -5.32% decrease for the week, with a -7.76% drop in the past month and a 5.23% gain in the past quarter. The volatility ratio for the week is 2.78%, and the volatility levels for the past 30 days are at 2.58% for Arista Networks Inc The simple moving average for the last 20 days is -5.22% for ANET stock, with a simple moving average of 14.03% for the last 200 days.
Analysts’ Opinion of ANET
Many brokerage firms have already submitted their reports for ANET stocks, with Citigroup repeating the rating for ANET by listing it as a “Buy.” The predicted price for ANET in the upcoming period, according to Citigroup is $385 based on the research report published on June 27, 2024 of the current year 2024.
Jefferies, on the other hand, stated in their research note that they expect to see ANET reach a price target of $320, previously predicting the price at $240. The rating they have provided for ANET stocks is “Buy” according to the report published on May 03rd, 2024.
Rosenblatt gave a rating of “Sell” to ANET, setting the target price at $210 in the report published on April 12th of the current year.
ANET Trading at -4.09% from the 50-Day Moving Average
After a stumble in the market that brought ANET to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -13.30% of loss for the given period.
Volatility was left at 2.58%, however, over the last 30 days, the volatility rate increased by 2.78%, as shares sank -5.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.22% upper at present.
During the last 5 trading sessions, ANET fell by -5.64%, which changed the moving average for the period of 200-days by +36.73% in comparison to the 20-day moving average, which settled at $395.05. In addition, Arista Networks Inc saw 59.02% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ANET starting from Duda Kenneth, who sale 20,000 shares at the price of $420.36 back on Nov 06 ’24. After this action, Duda Kenneth now owns 3,244 shares of Arista Networks Inc, valued at $8,407,167 using the latest closing price.
Duda Kenneth, the CTO and SVP Software Eng. of Arista Networks Inc, sale 20,000 shares at $420.36 during a trade that took place back on Nov 06 ’24, which means that Duda Kenneth is holding 174,600 shares at $8,407,160 based on the most recent closing price.
Stock Fundamentals for ANET
Current profitability levels for the company are sitting at:
- 0.42 for the present operating margin
- 0.64 for the gross margin
The net margin for Arista Networks Inc stands at 0.4. The total capital return value is set at 0.27. Equity return is now at value 33.83, with 24.32 for asset returns.
Currently, EBITDA for the company is 2.33 billion with net debt to EBITDA at -1.12. When we switch over and look at the enterprise to sales, we see a ratio of 17.37. The receivables turnover for the company is 5.85for trailing twelve months and the total asset turnover is 0.51. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.47.
Conclusion
To put it simply, Arista Networks Inc (ANET) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
