Savvy Trades and Investments

[researcher59]

ANET -5.73 to 85.04, after beating estimates and raising guidance. Looks like profit taking after the nice run from $66 just over 2 weeks ago -

briefing -

Arista Networks beats by $0.06, beats on revs; guides Q2 revs above consensus; notes additional program to repurchase up to $1.5 bln (90.77 +0.39) :
Reports Q1 (Mar) earnings of $0.65 per share, excluding non-recurring items, $0.06 better than the FactSet Consensus of $0.59; revenues rose 27.6% year/year to $2 bln vs the $1.97 bln FactSet Consensus.
Co issues upside guidance for Q2, sees Q2 revs of ~$2.1 bln vs. $2.03 bln FactSet Consensus.
Non-GAAP gross margin of approximately 63%; and
Non-GAAP operating margin of approximately 46%
In May 2025, Arista's Board of Directors authorized an additional program to repurchase up to $1.5 billion.

fly -

Arista Networks price target raised to $97 from $92 at Citi
Citi raised the firm's price target on Arista Networks to $97 from $92 and keeps a Buy rating on the shares. The company reported "beat/raise results" and maintained its fiscal 2025 guidance in a tough macro environment on continued strength in both enterprise and cloud, the analyst tells investors in a research note. The firm believes investors concerns are largely priced in and says the stock offers investors "offense" in the second half of 2025 with no major artificial intelligence restrictions impact and no China exposure.
07:23 EDT ANET
Arista Networks price target raised to $89 from $76 at Piper Sandler
Piper Sandler raised the firm's price target on Arista Networks to $89 from $76 and keeps a Neutral rating on the shares. The firm viewed this print as having a favorable setup last month given its inputs and the expectations then, but following a 33% rise since that factored in the realized upside, only a reiteration of annual and AI guides, pull-in and tariff concerns, and leadership carousel, shares are pointed lower after hours. This was not going to be a thesis changing quarter, as this management team tends to be conservative that made FY25 reiteration most likely, and the bear-narrative wouldn't be resolved. However, it appears Arista is defending its leaf/spine positioning with major customers, while gaining share with enterprises, and guide looks de-risked, Piper adds.
05:04 EDT ANET
Arista Networks downgraded to Neutral from Outperform at KGI Securities
KGI Securities downgraded Arista Networks to Neutral from Outperform with an $88 price target.