These Analysts Boost Their Forecasts On Arista Networks After Strong Q3 Results
Portfolio Pulse from Lisa Levin
Arista Networks (NYSE:ANET) reported better-than-expected Q3 results and issued strong Q4 revenue guidance. Revenue grew 28.3% Y/Y to $1.509 billion, beating the consensus of $1.480 billion. Adjusted EPS of $1.83 surpassed the consensus of $1.58. For Q4, Arista expects revenues of $1.500 billion-$1.550 billion vs. consensus of $1.47 billion. Following the earnings announcement, several analysts raised their price targets on Arista Networks.
October 31, 2023 | 6:22 pm
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Arista Networks reported strong Q3 results and issued positive Q4 guidance, leading to a rise in its stock price and several analysts raising their price targets.
Arista Networks' better-than-expected Q3 results and strong Q4 guidance indicate a positive financial performance, which is likely to boost investor confidence and drive the stock price up in the short term. The raised price targets by analysts further support this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100