Arista Networks $ANET Bullish Flag Breakout On Dark Pool Trading

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Arista Networks $ANET stock is testing key resistance on November 7, 2022, at $133.70. The stock is flirting with a Bullish Flag breakout which could take the stock substantially higher.

Data centers and cloud computing environments have cloud networking solutions from Arista Networks. The company offers 10/25/40/50/100 Gigabit Ethernet switches and routers. Arista uses multiple silicon architectures across its product line. At the core of the company’s cloud networking solutions is the Linux-based Extensible Operating System (EOS), which was architected to be fully programmable and highly modular. EOS works with some of the best cloud and virtualization solutions, including Microsoft System Center, OpenStack, and other cloud management tools.

Dark Pool Trading In Arista Networks $ANET Stock

Dark pool trading occurred in Arista Networks $ANET stock on November 2, 2022. The dark pool trade looks like buying because of how $ANET stock rose following the print hitting the tape.

Arista Networks stock chart on November 7, 2022, with dark pool trade shown with orange bar. A table is to the right with the text TIME SYMBOL MESSAGE PRICE 11/02/22 ANET 290,450 DARK AVGPRC $37.0M 12.18% AvgVol $127.71 11/02/22 ANET Unusual Dark Pool Activity $127.71

Make sure to review this lesson on dark pool trading so that you understand the chart above.

Arista Networks price target raised at Credit Suisse

On November 7, 2022, Sami Badri, a Credit Suisse analyst, raised the price target on Arista Networks to $140 from $119 and kept a Neutral rating on the stock. Sami Badri said that beginning in fiscal 2023, Arista will seek to expand its product and service offerings by entering new markets, thereby expanding its total addressable market to $50 billion.

Arista Networks price target raised at Deutsche Bank

Matthew Niknam, a Deutsche Bank analyst, increased his price target for Arista Networks to $140 from $135 on November 4, 2022 and kept a Hold rating on the stock. The analyst expects the shares to go up after a stronger than expected 2023 growth outlook. Niknam said that Aristas’ analyst day was the biggest surprise, because of a stronger-than-expected outlook for 2023 revenue growth. Arista Networks analyst day slides showed that the company plans to grow revenue by about 25% and have a non-GAAP operating margin of about 40% in FY23.

Arista Networks price target raised to $190 from $170 at Citi

On November 4, 2022, Jim Suva, a Citi analyst, raised the price target on Arista Networks to $190 from $170 and kept a Buy rating on the stock. The analyst increased estimates again following the company’s updated fiscal 2023 guidance provided at its analyst and investor day. Suva tells investors in a research note that the magnitude is substantial.

Arista Networks double upgraded at BofA

On November 1, 2022, Tal Liani from BofA upgraded Arista Networks to Buy with a price target of $150, up from $105. Tal Liani said that the company’s strong Q3 results and solid spending initiatives from the Cloud Titan group are the reasons for the upgrade. Liani thinks that the Cloud Titans vertical could keep growing in the near future, which means that EPS could be $5 in 2023.

Arista Networks $ANET Reports Third Quarter 2022 Financial Results

On October 31, 2022, Arista Networks, Inc. (NYSE: ANET) announced financial results for its third quarter ended September 30, 2022. Arista reported BIG beats on both EPS and revenue. Arista Networks reported Q3 adjusted EPS of $1.25 versus the consensus estimate of $1.04. The company reported Q3 revenue of $1.177B versus the consensus estimate of $1.06B.

“Arista continues to outpace our networking peers with record revenue in Q3 2022,” said Jayshree Ullal, President and CEO of Arista Networks. “Clearly, we are entering the next phase of Arista’s evolution in products, customer intimacy and new market expansion.”

VIDEO: Arista Networks Overview

Arista Networks $ANET Stock Technical Analysis

Arista Networks $ANET stock is in a technical uptrend. The stock is approaching overbought territory as it tests Bullish Flag resistance at around $133.70. Be watchful of profit taking.

Arista Networks stock chart on November 7, 2022, in Bullish Flag chart pattern with a positive MACD and positive money flow.
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