ANET Stock Summary and Trading Ideas (Arista Networks | NYSE:ANET)

Arista Networks is a networking equipment provider that primarily sells Ethernet switches and software to data centers. Its marquee product is its extensible operating system, or EOS, that runs a single image across every single one of its devices. The firm operates as one reportable segment. It has steadily gained market share since its founding in 2004, with a focus on high-speed applications. Arista counts Microsoft and Meta Platforms as its largest customers and derives roughly three quarters of its sales from North America.

Arista Networks trades on the NYSE stock market under the symbol ANET.

As of December 20, 2024, ANET stock price climbed to $112.81 with 8,459,672 million shares trading.

ANET has a beta of 2.37, meaning it tends to be more sensitive to market movements. ANET has a correlation of 0.51 to the broad based SPY ETF.

ANET has a market cap of $142.11 billion. This is considered a Large Cap stock.

Last quarter Arista Networks reported $2 billion in Revenue and $2.40 earnings per share. This beat revenue expectation by $71 million and exceeded earnings estimates by $.32.

In the last 3 years, ANET traded as high as $116.94 and as low as $22.28.

The top ETF exchange traded funds that ANET belongs to (by Net Assets): VTI, VOO, SPY, IVV, VUG.

ANET has outperformed the market in the last year with a price return of +93.5% while the SPY ETF gained +27.8%. ANET has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +17.4% and +4.2%, respectively, while the SPY returned +4.4% and -2.4%, respectively.

ANET support price is $105.88 and resistance is $112.27 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ANET shares will trade within this expected range on the day.