TLDR
- Arista Networks (ANET) stock rose more than 9% after hours following its Q3 report.
- Revenue grew 58.5% to $3.66 billion, the fastest pace since the 2014 IPO.
- The company’s first 2027 revenue forecast is about $18.5 billion, above the $16.4 billion Wall Street expected.
- Arista raised its 2026 revenue outlook for the fourth time in a row, to $13.3 billion.
- JPMorgan lifted its price target to $270, and Rosenblatt reiterated a buy with a $280 target.
Arista Networks (ANET) stock jumped more than 9% in after-hours trading on Tuesday. The move followed a third-quarter report that beat Wall Street on both revenue and profit.
The stock had closed up 3.52% in the regular session before the numbers came out. Investing.com reported a 9.6% gain in pre-market trading on Wednesday.
Revenue hit $3.66 billion, up 58.5% from a year earlier. Analysts had expected about $3.33 billion.
ARISTA NETWORKS $ANET Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $3.66B (Est. $3.33B) 🟢; +58.5% YoY
🔹 Adj. EPS: $1.20 (Est. $1.08) 🟢; +56% YoYQ4 Guide:
🔹 Revenue: ~$3.9B-$4.0B (Est. $3.6B) 🟢
🔹 Adj. EPS: $1.26-$1.30 (Est. $1.15) 🟢
🔹 Non-GAAP Operating Margin: 48%-49%… pic.twitter.com/GYsu3F9QsJ— Wall St Engine (@wallstengine) November 3, 2026
Adjusted earnings came in at $1.20 a share, against a forecast of $1.08. Arista said the revenue jump was its biggest year-over-year gain since the 2014 IPO.
The 2027 Forecast Steals the Show
Arista also gave its first look at 2027. It expects revenue of about $18.5 billion, which implies growth of 38% to 40%.
Wall Street had penciled in about $16.4 billion. That puts the company’s number roughly $2.1 billion higher.
Management raised its 2026 revenue outlook to $13.3 billion. That equals 48% annual growth and marks the fourth raise in a row.
Inside the 2027 plan, AI networking is set to double to about $7 billion. The cognitive campus business is expected to grow about 60%, to roughly $2 billion.
For the fourth quarter, Arista expects revenue of $3.9 billion to $4 billion. Adjusted earnings are guided at $1.26 to $1.30 a share.
What the CEO and Analysts Said
CEO Jayshree Ullal called it “another memorable quarter.” She said results topped even her high expectations.
She tied the strength to demand for AI. “This strong momentum across customer sectors highlights our increased relevance for the generative and agentic AI era,” she said.
JPMorgan raised its price target to $270 from $250. Rosenblatt kept its buy rating with a $280 target.
Arista is working with AMD, Arm, Broadcom and Qualcomm on equipment for AI networks. Meta and Microsoft are also partners on that work.
The broader market was calm by comparison. In pre-market trading, the S&P 500 was up 0.3% and the Nasdaq was up 0.2%.
Arista was recently added to the S&P 100. The pre-market jump pushed the stock back into the upper half of its 52-week range of $114.52 to $217.41.
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