Arista Networks shares are trading lower after the company reported better-than-expected Q2 financial results and raised its Q3 revenue guidance. Additionally, Jefferies maintained a Buy rating on the stock and raised its price target from $340 to $380
Portfolio Pulse from Benzinga Newsdesk
Arista Networks shares are trading lower despite reporting better-than-expected Q2 financial results and raising its Q3 revenue guidance. Jefferies maintained a Buy rating and increased its price target from $340 to $380.
July 31, 2024 | 1:41 pm
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Arista Networks shares are trading lower despite the company reporting better-than-expected Q2 financial results and raising its Q3 revenue guidance. Jefferies maintained a Buy rating and increased its price target from $340 to $380.
Despite the positive financial results and raised guidance, the stock is trading lower, which could be due to profit-taking or market expectations being even higher. However, the maintained Buy rating and increased price target from Jefferies suggest a positive outlook in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100