Arista Networks Inc. (NYSE: ANET) Price Target Increased at Deutsche Bank AG

Arista Networks Inc. (NYSE: ANET) had its price target raised by equities researchers at Deutsche Bank AG from $80.00 to $85.00. The company currently has a rating of Buy on the shares. A number of other analysts have issued reports on the company in recent days, and the company has earned a consensus one-year price target of $83.10, higher than the opening price of $80.74, a difference of 10.00 percent. Arista Networks Inc. stock has a 52-week high of $84.27.

Stocks closed mostly in negative territory Wednesday in the wake of slumping crude-oil prices, erasing earlier gains for the major indices, while the tech-heavy Nasdaq bucked the losing trend.

The Dow Jones Industrial Average DJIA, -0.18% slid 31.98 points, or 0.2%, to close at 18,034.77

The S&P 500 index SPX, -0.06% fell 1.25 points to end at 2,125.77, weighed by a 1.2% drop in the energy sector.

The Nasdaq Composite Index COMP, +0.36% advanced 18.52 points, or 0.4%, to close at 5,173.77.

Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.

Shares of Arista Networks Inc. (NYSE: ANET) opened at $80.74 yesterday and traded in a range between, $80.73 and $84.27, and last traded at $83.13, which represents a change of $ 2.40 over the previous closing price.

Arista Networks Inc. (NYSE: ANET) currently has a market cap of 5.76B

The stocks average daily volume is 763,336 shares out of a total float 41,738,000 and some 1,804,651 shares traded hands yesterday, 122 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are considering.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind Arista Networks Inc. (NYSE: ANET) now has a 50-day MA is $76.88 and 200-day MA is $69.33, and it has traded in a 52-week range between $52.51 – 84.27 and today’s last price is -1.35 percent off the 52 week high of $84.27.

Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of The Woodbridge Citizen. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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