Arista Networks (ANET) : Traders are bullish on Arista Networks (ANET) as it has outperformed the S&P 500 by a wide margin of 7.17% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.56%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.62% in the last 1 week, and is up 8.27% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.9% and the 50-Day Moving Average is 7.36%. Arista Networks (NYSE:ANET): stock turned positive on Friday. Though the stock opened at $75.45, the bulls momentum made the stock top out at $75.89 level for the day. The stock recorded a low of $75.06 and closed the trading day at $75.78, in the green by 0.42%. The total traded volume for the day was 571,235. The stock had closed at $75.46 in the previous days trading.
The company Insiders own 32.39% of Arista Networks shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -6.69% . Institutional Investors own 50.34% of Arista Networks shares. During last six month period, the net percent change held by insiders has seen a change of -20.88%. Also, In a research note released to the investors, UBS maintains its rating on Arista Networks (NYSE:ANET).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, UBS raises the new price target from $68 per share to $72 per share. The rating by the firm was issued on August 5, 2016.
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. The Company 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, 72XX/7300 X Series SPLINE switches and its 7280 and 7500 E Series spine switches. EOS supports cloud and virtualization solutions, including VMware NSX, Microsoft System Center, OpenStack and other cloud management frameworks. The Company also offers EOS+, a software platform for network programmability and automation.