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- Arista Networks Q4 2023 and full year results announced
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- Arista Networks Q4 2023 and full year results announced
- Founded: 2004
- Headquarters: Santa Clara, California, United States
- Number of employees: 3,612 (2022)
- Industry: Networking hardware
- Key people: Jayshree Ullal (CEO and Chairperson), Andy Bechtolsheim (Founder and Chief Architect), Chantelle Breithaupt (CFO)
- 5 day: +2.90%
- 1 month: +11.45%
- 3 months: +33.57%
- Year-to-date: +19.26%
- 1 year: +106.53%
- Wells Fargo & Company: $310
- JMP Securities: $325
- KeyCorp: $287
- Melius Research: $300
- Morgan Stanley: $272
- Citigroup: $300
- The Goldman Sachs Group: $248
- Needham & Company LLC: $235
- Piper Sandler: $209
- Rosenblatt Securities: $230
- Bank of America: $225
- Argus: $225
- Barclays: $200
- BNP Paribas: $210
- Credit Suisse Group: $151
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & AnalysisNews & AnalysisIt’s set to be another busy week of US earnings with The Coca-Cola Company, Shopify Inc., Airbnb Inc., Deere & Company and more expected to announce the latest earnings results.
First up, US computer networking company Arista Networks Inc. (NYSE: ANET) released the latest results after the closing bell on Monday.
The company achieved revenue of $1.54 billion for Q4 2023, narrowly beating Wall Street estimate of $1.534 billion. Revenue was up by 20.8% year-over-year.
Earnings per share (EPS) was reported at $2.08, which was above analyst estimate of $1.704 per share. EPS was up by 47.51% from Q4 2022.
Full year revenue was up by 33.8% from 2022 at $5.860 billion. EPS reached $6.94 per share.
Company overview
CFO commentary
“I am truly honoured to be a part of the leadership team that will drive Arista 2.0 products and technology for enterprise, cloud and AI customers. As we enter 2024, we remain focused on satisfying their most demanding requirements with our compelling, innovative networking solutions,” CFO of Arista Networks, Chantelle Breithaupt said in a press release.
Stock reaction
There was no major movement in share price on Monday before the latest results were announced. The stock was trading at $280.88 a share, down by 0.56%.
Shares fell by around 6% in the after-hours trading.
Stock performance
Arista Networks stock price targets
Arista Networks Inc. is the 178th largest company in the world with a market cap of $87.38 billion, according to CompaniesMarketCap.
You can trade Arista Networks Inc. (NYSE: ANET) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to ”Trading” then select ”Share CFDs”.
GO Markets offers pre-market and after-market trading on popular US Share CFDs.
Why trade during extended hours?
Sources: Arista Networks Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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