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Arista (ANET) to Report Q3 Earnings: What's in the Cards?
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Arista Networks, Inc. (ANET - Free Report) is scheduled to report third-quarter 2020 results on Nov 2, after the closing bell. In the last reported quarter, the company delivered a positive earnings surprise of 7.1%. The bottom line surpassed the Zacks Consensus Estimate by 14 cents. Notably, Arista delivered a trailing four-quarter positive earnings surprise of 10%, on average.
The Santa Clara, CA-based cloud networking company is likely to have recorded higher revenues year over year, supported by overall healthy demand. However, due to the COVID-19 operating environment, Arista experienced some supply challenges that resulted in extended lead time and somewhat constrained shipments.
Factors at Play
During the third quarter, Arista made several additions to its multi-cloud and cloud-native software product family with CloudEOS Edge. The company partnered with Forescout Technologies, the world leader in device visibility and control, to reduce cybersecurity risks brought on by the explosive growth of IoT devices, increased network complexity and propagation of malware.
Arista also introduced a new enterprise-grade Software-as-a-Service offering for the flagship CloudVision platform. These developments are likely to have had a positive impact on the company’s top line.
For the September quarter, the Zacks Consensus Estimate for revenues is pegged at $580 million, indicating an increase of 4.5% from the year-ago quarter’s reported figure. However, adjusted earnings per share are pegged at $2.23, which suggests a decline of 17.1% year over year.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Arista this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Arista’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00% as both are pegged at $2.23.
Zacks Rank: Arista currently carries a Zacks Rank #3.
Stocks to Consider
Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:
AGCO Corporation (AGCO - Free Report) is scheduled to release third-quarter 2020 results on Nov 3. The company has an Earnings ESP of +6.07% and a Zacks Rank #1.
ArcBest Corporation (ARCB - Free Report) has an Earnings ESP of +5.20% and a Zacks Rank of 1. The company is set to report third-quarter 2020 results on Nov 3.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
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Arista (ANET) to Report Q3 Earnings: What's in the Cards?
Arista Networks, Inc. (ANET - Free Report) is scheduled to report third-quarter 2020 results on Nov 2, after the closing bell. In the last reported quarter, the company delivered a positive earnings surprise of 7.1%. The bottom line surpassed the Zacks Consensus Estimate by 14 cents. Notably, Arista delivered a trailing four-quarter positive earnings surprise of 10%, on average.
The Santa Clara, CA-based cloud networking company is likely to have recorded higher revenues year over year, supported by overall healthy demand. However, due to the COVID-19 operating environment, Arista experienced some supply challenges that resulted in extended lead time and somewhat constrained shipments.
Factors at Play
During the third quarter, Arista made several additions to its multi-cloud and cloud-native software product family with CloudEOS Edge. The company partnered with Forescout Technologies, the world leader in device visibility and control, to reduce cybersecurity risks brought on by the explosive growth of IoT devices, increased network complexity and propagation of malware.
Arista also introduced a new enterprise-grade Software-as-a-Service offering for the flagship CloudVision platform. These developments are likely to have had a positive impact on the company’s top line.
For the September quarter, the Zacks Consensus Estimate for revenues is pegged at $580 million, indicating an increase of 4.5% from the year-ago quarter’s reported figure. However, adjusted earnings per share are pegged at $2.23, which suggests a decline of 17.1% year over year.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Arista this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Arista’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00% as both are pegged at $2.23.
Arista Networks, Inc. Price and EPS Surprise
Arista Networks, Inc. price-eps-surprise | Arista Networks, Inc. Quote
Zacks Rank: Arista currently carries a Zacks Rank #3.
Stocks to Consider
Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:
Vishay Intertechnology, Inc. (VSH - Free Report) is slated to release third-quarter 2020 results on Nov 3. It has an Earnings ESP of +6.45% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
AGCO Corporation (AGCO - Free Report) is scheduled to release third-quarter 2020 results on Nov 3. The company has an Earnings ESP of +6.07% and a Zacks Rank #1.
ArcBest Corporation (ARCB - Free Report) has an Earnings ESP of +5.20% and a Zacks Rank of 1. The company is set to report third-quarter 2020 results on Nov 3.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Check out Zacks’ 2020 Election Stock Report >>