Arista Networks, Inc. (ANET) reported strong third-quarter 2024 results, with revenues and adjusted earnings soaring year over year, driven by robust demand trends. Innovative product launches and steady customer additions backed by the company’s best-in-class portfolio strength led to top-line expansion, while steady margin improvement contributed to earnings growth. Both the bottom and the top lines beat the Zacks Consensus Estimate.ANET Rides on Portfolio TractionDriven by improved market demand on the b ...

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In May, I initially covered Arista Networks (NYSE: ANET ) with a buy rating and cited it as a key supplier to data centers and hyperscalers. The stock was not cheap when looking at 2024 estimates, and one needed toExperience is difficult to learn. After 30 plus years of critically analyzing the nuts and bolts of businesses as diverse as airlines, oil, retail, mining to fintech and ecommerce plus the macro, monetary and political drivers. I continue to immensely enjoy learning and applying my experience to u ...

Professional equity portfolio manager for a boutique buy-side asset manager.My focus is on finding high-quality companies, applying a disciplined approach to valuation and identifying underappreciated opportunities. My goal is to identify opportunities in cash-rich companies with strong balance sheets and shareholder friendly policies. I endeavour to incorporate a mix of quantitative and qualitative measures to identify opportunities in stocks. Long-only approach with a long-term investment focus.Analyst’s ...

Able to impressively exceed their Q3 expectations, a few top-rated tech stocks are standing out in what has been an exciting trading week. With markets seeing a post-election boost and the Fed implementing another rate cut of 25 basis points, here are two intriguing tech stocks to consider after posting favorable Q3 results on Thursday. Arista Networks - ANET Zacks Rank #1 (Strong Buy) Cloud provider Arista Networks (ANET) is one of the hottest tech stocks soaring over +70% year to date and sitting on +200% ...

Arista Networks, Inc. (ANET) reported strong third-quarter 2024 results, with revenues and adjusted earnings soaring year over year, driven by robust demand trends. Innovative product launches and steady customer additions backed by the company’s best-in-class portfolio strength ensured top-line expansion, while steady margin improvement contributed to earnings growth. Both the bottom and the top lines beat the respective Zacks Consensus Estimate. Find the latest EPS estimates and surprises on Zacks Earning ...

Arista Networks Inc (NYSE:ANET) stock is down 5.8% at $405.83 at last glance, despite the company's better-than-expected third-quarter results -- including an earnings beat and record revenue -- due to shrinking margins. The computer networking firm also announced a four-for-one stock split, effective Dec. 3, and upbeat current-quarter guidance. Today's price movement could also be a slight correction after the stock's recent rally, which culminated in a record high of $431.97 last session. Year to date, th ...

Arista Networks, Inc. (NYSE:ANET) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Liz Stine - Director of Investor Relations Jayshree Ullal - Chairperson & Chief Executive Officer John McCool - Chief Platform Officer & Senior Vice President of Engineering and Operations Chantelle Breithaupt - Chief Financial Officer Conference Call Participants Samik Chatterjee - JPMorgan Antoine Chkaiban - New Street Research Tal Liani - Bank of America Simon Leopold - Raymond James Ben Re ...

Arista Networks (ANET) came out with quarterly earnings of $2.40 per share, beating the Zacks Consensus Estimate of $2.09 per share. This compares to earnings of $1.83 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.83%. A quarter ago, it was expected that this cloud networking company would post earnings of $1.94 per share when it actually produced earnings of $2.10, delivering a surprise of 8.25%.Over the last four quarte ...

Core Insights - Arista Networks reported third-quarter revenue of $1.81 billion, a 7% year-over-year increase, exceeding analyst expectations [1][3] - Net income for the third quarter was $747.9 million, or $2.33 per share, up from $545.3 million, or $1.72 per share, a year earlier [1] - Despite strong profits, the company's gross margin decreased to 64.2% from 64.9% in the previous quarter, with expectations for further decline in the fourth quarter [2] Revenue and Earnings Forecast - For the fourth quarter, Arista forecasts revenue between $1.85 billion and $1.9 billion, which is above consensus estimates [3] - Analysts had anticipated a 28% growth in the fourth quarter, driven by increased cloud spending due to AI demand [3] Stock Split Announcement - Arista announced a 4-for-1 stock split to enhance stock accessibility for investors, with trading set to begin on December 4 [4] - The stock split will reduce the price of each share by a factor of four, but will not affect the total value of investors' holdings [4] Market Reaction - Following the earnings report, Arista's shares fell more than 7% in extended trading, despite being up approximately 83% for the year prior to the announcement [5]