PREVIEW: Arista Networks rises ahead of earnings report

Shares of Arista Networks ANET.N rise 1.1% ahead of quarterly results after the bell, with investors focused on demand for cloud-networking gear amid AI boom

Analysts expect quarterly rev. up 25% to $1.97 bln, adjusted EPS seen at $0.59, vs $0.50 a yr-ago, according to data compiled by LSEG

Company in February projected quarterly rev. above Wall Street estimates, underscoring strong demand for advanced networking infrastructure capable of supporting complex AI workloads

Stock recently traded at 34 times expected earnings, above its avg. forward PE of 31 over the past five years

ANET stock down about 17% YTD, underperforming S&P 500 .SPX, which is down 4%

Shares are about 32% below their 52-week intraday high of $133.575 reached on January 24, 2025

In the past 30 days, one out of 26 analysts raised EPS estimates for the quarter, while one revised downwards