Arista Networks falls on downbeat 2025 revenue forecast

Arista Networks

08/11/2024 10:46

** Shares of cloud networking provider Arista Networks
 ANET.N  drop 3.58% to $415.61 in premarket trading
    ** Co on Thursday forecast 2025 revenue of about $8 bln,
below analysts' estimates of $8.15 bln - LSEG data
    ** ANET expects 2025 revenue growth between 15% and 17%,
below estimates of 18.45% 
    ** Co posted Q3 profit of $747.9 mln, or $2.33 per share, up
from $545.3 mln, or $1.72 per share, a year earlier 
    ** Q3 revenue rose 7.1% to $1.81 bln, beating estimates of
$1.74 billion 
    ** Nineteen of 24 brokerages rate the stock "buy" or higher,
4 "hold" and 1 "sell"; their median PT is $410
    ** Up to last close, stock had risen 83% YTD

 (Reporting by Kritika Lamba in Bengaluru)
 ((Kritika.Lamba@thomsonreuters.com))