Arista Networks (ANET) is Upgraded by Oppenheimer to Outperform, Price Target at $90

Arista Networks (ANET) is Upgraded by Oppenheimer to Outperform according to the research report released to the investors. The brokerage firm has set the Price Target of the shares at $90. Earlier the firm had a rating of Perform on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

Arista Networks, Inc. is up 27.61% in the last 3-month period. Year-to-Date the stock performance stands at 28.11%.The company shares have rallied 25.64% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $88.56 and the one year low was seen on Feb 6, 2015. The 50-Day Moving Average price is $72.34 and the 200 Day Moving Average price is recorded at $73.84.

Shares of Arista Networks, Inc. (NYSE:ANET) rose by 3.77% in the past week and 4.91% for the last 4 weeks. In the past week, the shares have outperformed the S&P 500 by 4.64% and the outperformance increases to 7.36% for the last 4 weeks.

Shares of Arista Networks, Inc. (NYSE:ANET) ended Thursday session in red amid volatile trading. The shares closed down 0.91 points or 1.16% at $77.84 with 464,550 shares getting traded. Post opening the session at $78.22, the shares hit an intraday low of $77.73 and an intraday high of $79.435 and the price vacillated in this range throughout the day. The company has a market cap of $5,274 million and the number of outstanding shares have been calculated to be 67,756,358 shares. The 52-week high of Arista Networks, Inc. (NYSE:ANET) is $88.56 and the 52-week low is $56.11.

Currently the company Insiders own 35.44% of Arista Networks, Inc. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -1.6% . Institutional Investors own 45.92% of Arista Networks, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of -11.35%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Sr. VP, Worldwide Sales) of Arista Networks, Inc., Smith Mark Stephen had sold 1,150 shares worth of $83,421 in a transaction dated December 9, 2015. In this transaction, 1,150 shares were sold at $72.54 per share.

Arista Networks, Inc. is a supplier of cloud networking solutions that use software to address the needs Internet companies, cloud service providers and next-generation data centers for enterprises. The Companys cloud networking solutions consist of its Extensible Operating System (EOS) a set of network applications and its 10/40/100 Gigabit Ethernet switches. It offers range of product lines of data center 10/40/100 Gigabit Ethernet switches in the industry, which consist of its 7050 Series and 7150 Series top-of-rack switches, its 7250X Series and 7300 Series SPLINE switches and its 7500 Series spine switch. EOS supports cloud and virtualization solutions, including VMware NSX, Microsoft System Center, OpenStack and other cloud management frameworks.