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Is Arista Stock Undervalued after Its Recent Pullback?

Adam Rogers
Is Arista Stock Undervalued after Its Recent Pullback?

Arista Networks (ANET) stock is trading at a forward PE multiple of 22.2x. This multiple doesn't seem expensive considering that Arista stock has fallen close to 25.0% in the last two and a half months and considering its expected earnings growth rate going forward.