Arista Networks drops 12% premarket despite strong Q3 beat
Arista Networks (ANET) shares fell 12% premarket despite beating Q3 estimates and receiving a target hike from Barclays. Revenue rose 27.5% to $2.31 billion, with EPS at $0.75 versus $0.72 expected. However, guidance showed weaker gross margins. Retail traders on Stocktwits stayed bullish, calling the dip a buying opportunity amid strong AI and cloud demand.