Why Arista Networks, Inc. Stock Popped 16.6% in November
Shares of Arista Networks Inc. (NYSE: ANET) climbed 16.6% in November, according to data from S&P Global Market Intelligence, after the data center software specialist announced better-than-expected quarterly 2017 results.
The stock popped more than 11% on Nov. 3, 2017 alone. That was the first trading day after the company confirmed that its revenue had climbed 50.8% year over year to $437.6 million, far above its previous financial guidance for between $405 million and $420 million. Trending toward the bottom line, gross margin was 64.4%, above guidance for 61% to 64%. In addition, adjusted net income more than doubled over the same period to $128.2 million, or $1.62 per share, trouncing consensus estimates at the time for $1.19.
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Source: Fool.com
Arista Networks Stock
Arista Networks is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
As a result the target price of 296 € shows a slightly positive potential of 2.23% compared to the current price of 289.55 € for Arista Networks.
