What's Going On With Arista Stock Tuesday?

Arista Networks, Inc. ANET shares are moving higher on Tuesday. The stock may be moving higher ahead of the company's 2024 fiscal-year fourth-quarter earnings which it’s scheduled to report after the market closes today.

The Details: Analysts estimate earnings per share of 57 cents and revenue of $1.90 billion, according to data from Benzinga Pro. In its third-quarter earnings report, the company guided fourth-quarter revenue to be between $1.85 billion and $1.90 billion.

It also guided a gross margin of about 63% to 64% and an operating margin of approximately 44%.

For the third quarter, the company reported adjusted earnings per share of 60 cents, missing analysts’ estimate of $2.08. In addition, Arista reported revenue of $1.81 billion, beating analysts’ estimate of $1.74 billion.

“Arista remains at the forefront of next-generation centers of data across client-to-cloud and AI-focused locations,” said Jayshree Ullal, Chairperson and CEO of Arista, in the company’s last earnings report.

The company is anticipated to host a live conference call at 4:30 P.M. ET to discuss its financial results.

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ANET Price Action: At the time of writing, Arista stock is trading 2.23% higher at $109.26, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.