Arista Networks, Inc. (NYSE:ANET) is expected to report third quarter earnings results, after market close, on Monday 2nd November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 2.21 per share.
Looking ahead, the full year income are expected at $ 8.67 per share on the revenues of $ 2250.76 million.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 570.00 million ~ $ 590.00 million
Click Here For More Historical Outlooks Of Arista Networks, Inc.
Previous Quarter Performance
Arista Networks, Inc. communicated income for the second quarter of $ 2.11 per share, from the revenue of $ 540.57 million. The quarterly earnings declined 13.52 percent while revenues contracted 10.95 percent compared with the same quarter last year.
According to street consensus, ANET was expected to report 2Q20 income of $ 1.95 per share from revenue of $ 529.73 million. The bottom line results beat street analysts by $ 0.16 or 8.21 percent, at the same time, top line results outshined analysts by $ 10.84 million or 2.05 percent.
Stock Performance
On Friday, shares of Arista Networks, Inc. has traded high as $ 212.69 and has cracked $ 200.35 on the downward trend, reaching $ 208.90 with volume of 1.66 million shares.
According to the previous trading day, closing price of $ 208.90, representing a 29.71 % increase from the 52 week low of $ 156.63 and a 24 % decrease over the 52 week high of $ 267.30.
The company has a market capital of $ 16.74 billion and is part of the Technology sector and Computer Systems industry.
Recent Analyst recommendations
- On 12th October 2020, downgraded by Citigroup to Neutral from Buy rating, with $ 230.00 target price.
- On 8th October 2020, upgraded by JPMorgan Chase & Co. to Overweight from Neutral rating.
- On 23rd September 2020, initiated by UBS Group at Buy rating, with $ 260.00 target price.
- On 11th September 2020, maintained by MKM Partners at Neutral rating, with $ 235.00 target price.
Conference Call
Arista Networks, Inc. will be hosting a conference call at 4:30 PM eastern time on 2nd November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.arista.com
Arista Networks, Inc. develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The companys cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
