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Arista stock falls after analyst day

Emily Bary

Arista Networks Inc. shares are down more than 4% in midday trading Friday, a day after the company held an analyst day. Piper Jaffray analyst James Fish wrote that while he found the event "thoughtful and upbeat," he expected shares to fall afterwards "given the lack of hyperscaler order commentary and the lowering of revenue growth expectations." Wells Fargo's Aaron Rakers said that he expected the conference to be viewed as "a bit underwhelming," in part because the company didn't lay out "a full campus push." Others were more cheerful, including Needham's Alex Henderson, who wrote that Arista's analyst day "should dispel any doubts investors have about the sustainability of its differentiation." Arista shares have gained 17% so far this year, as the S&P 500 has risen 15%.