Arista Networks

By Eric J. Savitz Arista Networks stock gave ground in late trading Monday, after the networking equipment company posted fourth-quarter results that edged Street estimates. Apparently, investors wanted more than Arista delivered. For the December quarter, Arista posted revenue of $1.54 billion, up 21% from a year earlier. That was toward the top end of the company’s guidance range of $1.5 billion to $1.55 billion, and just ahead of the Street consensus forecast as tracked by FactSet of $1.53 billion. The company posted a non-GAAP gross margin of 64.9%, above the company’s forecast of 63%. Adjusted profit was $2.08 a share, ahead of the Street consensus at $1.70. For the March quarter, Arista expects revenue of between $1.52 billion to $1.56 billion, with non-GAAP gross margin of 62%, and non-GAAP operating margin of 42%. Street consensus estimates for the quarter had called for $1.53 billion in revenue and profit of […]

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target price by $25 to $225, 31.5x our 2024 EPS estimate, a premium to peers, reflecting recent strong results. We increase our 2023 EPS estimate by $0.38 to $6.55 and increase 2024’s by $0.33 to $7.15. ANET reported Q3 operating EPS of $1.83 vs. $1.25, $0.25 above the consensus. Q3 revenue grew 28.3%, driven by strong demand from enterprise customers, partially offset by ongoing weakness in the cloud titan vertical. The strong demand from enterprise customers not only drove the revenue beat and increase to guidance, but also strong margin levels as more of ANET’s sales shifted toward this customer group. We have a positive view on this strong enterprise demand, which is coming not only from traditional high-tech and financial customers, but

Arista Networks, Inc. Reports Third Quarter 2023 Financial Results SANTA CLARA, Calif.–(BUSINESS WIRE)–October 30, 2023– Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client to cloud networking for large data center, campus and routing environments, today announced financial results for its third quarter ended September 30, 2023. Third Quarter Financial Highlights “Arista once again delivered strong financial results in the third quarter,” says Jayshree Ullal, President and CEO of Arista Networks. “Customer momentum remained strong in both enterprise and cloud/AI sectors.”   —  Revenue of $1.509 billion, an increase of 3.5% compared to the second      quarter of 2023, and an increase of 28.3% from the third quarter of      2022.   —  GAAP gross margin of 62.4%, compared to GAAP gross margin of 60.6% in      the second quarter of 2023 and 60.3% in the third quarter of 2022.   —  Non-GAAP gross margin

Arista Networks (NYSE:ANET) reported Q2 adjusted earnings  of $1.58 per diluted share, up from $1.08 a year earlier. Analysts polled by Capital IQ expected $1.44. Revenue for the quarter ended June 30 was $1.46 billion, up from $1.05 billion a year earlier. Analysts surveyed by Capital IQ expected $1.38 billion. Arista said it expects Q3 revenue of $1.45 billion to $1.50 billion. Analysts surveyed by Capital IQ are looking for $1.39 billion.