Workflow
Cloud Software Stock Slips From Record Highs After Earnings
ANETArista(ANET) Schaeffers Investment Research·2024-11-08 15:49

Arista Networks Inc (NYSE:ANET) stock is down 5.8% at 405.83atlastglance,despitethecompany′sbetter−than−expectedthird−quarterresults−−includinganearningsbeatandrecordrevenue−−duetoshrinkingmargins.Thecomputernetworkingfirmalsoannouncedafour−for−onestocksplit,effectiveDec.3,andupbeatcurrent−quarterguidance. Today′spricemovementcouldalsobeaslightcorrectionafterthestock′srecentrally,whichculminatedinarecordhighof405.83 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 ...