Why Arista Networks Shares Gained 23.7% in July
Shares of Arista Networks (NYSE: ANET) rose 23.7% in July 2020, according to data from S&P Global Market Intelligence. The networking equipment maker didn't have much news to share in July, but analysts could smell an impressive second-quarter report coming up in early August.
Several analyst firms posted bullish previews of Arista's second-quarter results in the second half of July, driving the stock steadily higher. When the second-quarter report finally arrived, it was a solid beat-and-raise effort that triggered an immediate 11% sell-off because the expectations had been set so incredibly high just before Arista's report.
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Source Fool.com
