Why Arista Networks Stock Is Sinking Today
Arista Networks (NYSE: ANET) stock is heading lower in Wednesday's trading. The networking technologies company's share price was down 7.3% as of 10:30 a.m. ET amid a 0.3% decline for the S 500 index and a 0.5% decline for the Nasdaq Composite index.
Arista Networks reported its fourth-quarter results after the market closed yesterday, posting sales and earnings that came in better than Wall Street's estimates. But despite the strong Q4 numbers and solid forward targets, it looks like some investors were expecting the company to post even better guidance.
Arista reported non-GAAP (adjusted) earnings per share of $0.65 on revenue of $1.93 billion in the fourth quarter. The performance came in ahead of the average Wall Street analyst estimates, which had called for adjusted earnings per share of $0.57 on sales of $1.9 billion.
Source Fool.com
