ANET
Arista Networks, Inc.Evidence as of 2026-10-07The desk's Snapshot
3 of 15 open to everyone · members see allRead the full desk report on ANET
Seven analysts, the debate, the risk review, every claim cited. And the same for every name you hold.
Free plan, no credit card required. Silver opens the full report, $19.99 a month. AI-written · every claim cites a source · Insight, not advice.
Overview · Arista Networks, Inc.
Arista Networks, Inc. develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms. It also provides post contract customer support services, such as technical support, hardware re…
Management team
- Ms. Isabelle Bertin-Bailly · Group Vice President of Worldwide Human Resources & OperationsFind on LinkedIn
- Mr. Christopher Schmidt · Senior Vice President of World Wide SalesFind on LinkedIn
- Ms. Jayshree V. Ullal · CEO & ChairpersonFind on LinkedIn
- Mr. Kenneth Duda · CTO,Co-Founder, & Senior VP of Software Engineering and DirectorFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.4 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The desk’s evidence balance is Cautious ( -0.4 of a possible +2; confidence high). Revenue has risen sequentially from $ 2,204.8 M in Q2 2025 (fiscal quarter ended 2025-07-31) to $ 2,308.3 M in Q3 2025 (fiscal quarter ended 2025-10-30), then to $ 2,709.0 M in Q1 2026 (fiscal quarter ended 2026-04-30) and $ 3,035.7 M in Q2 2026 (fiscal quarter ended 2026-07-30). Gross profit followed the same upward path ($ 1,438.6 M, $ 1,490.2 M, $ 1,693.5 M, $ 1,910.3 M), while calculated gross margin compressed from about 65.3% and 64.6% in the earlier quarters to ~62.5% and ~62.9% in the two most recent quarters.
Operating income increased from $ 986.2 M and $ 978.2 M to $ 1,157.8 M and $ 1,378.0 M across the same sequence, with operating margin roughly in the low- to mid- 40s percent range each quarter. Net income rose from $ 888.8 M and $ 853.0 M to $ 1,022.9 M and $ 1,212.9 M, and diluted EPS moved from $ 0.70 and $ 0.67 to $ 0.80 and $ 0.95. Cash and cash equivalents declined from $ 2,789.5 M as of 2026-03-31 to $ 2,290.2 M as of 2026-06-30, while trailing twelve‑month free cash flow is reported at $ 3,125,552,000 (FCF per share $ 2.4495). Valuation metrics implied by the market are elevated: the model-derived implied FCF growth rate is 49.82%, P/FCF ~ 87.92, EV/EBITDA ~ 58.88, and P/E ~ 69.03.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue increased sequentially from $2,204.8M in fiscal Q2 2025 (2025-04-01 to 2025-06-30) to $2,308.3M in fiscal Q3 2025 (2025-07-01 to 2025-09-30), to $2,709.0M in fiscal Q1 2026 (2026-01-01 to 2026-03-31), and to $3,035.7M in fiscal Q2 2026 (2026-04-01 to 2026-06-30).
XBRL companyfacts · 0001596532-26-000175Gross profit was $1,438.6M in fiscal Q2 2025 (2025-04-01 to 2025-06-30), $1,490.2M in fiscal Q3 2025 (2025-07-01 to 2025-09-30), $1,693.5M in fiscal Q1 2026 (2026-01-01 to 2026-03-31), and $1,910.3M in fiscal Q2 2026 (2026-04-01 to 2026-06-30).
XBRL companyfacts · 0001596532-26-000175Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 10-K filed 17 February 2026 states the company is primarily reliant upon a predominant merchant silicon vendor, Broadcom, for its switching chips and says product development is dependent on continued collaboration with such merchant silicon vendors.
Item 1A risk-factor diff · 0001596532-26-000013 vs 0001596532-25-000028The 10-K filed 17 February 2026 reports customer concentration where sales to one end customer represented 16%, 15%, and 21% of total revenue, and sales to another end customer represented 26%, 20%, and 18% of total revenue for the years ended December 31, 2025, 2024, and 2023, respectively.
Item 1A risk-factor diff · 0001596532-26-000013 vs 0001596532-25-000028Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Momentum over the past 6 months is +61.1% (momentum_6m) and this metric ranks in the 93th percentile of the 815-stock research universe on 2026-10-06.
Moneyta signal set · 2026-10-06weakened in debateMomentum_12_1 is +37.3% and ranks in the 77th percentile of the 815-stock research universe on 2026-10-06.
Moneyta signal set · 2026-10-06weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutions reported $151.00B in aggregate holdings of ANET as of 2026-06-30, with 2,279 institutional holders and a net increase of 227 holders quarter-over-quarter.
13F holdings · 2279 filers · as of 2026-06-30Top institutional holders reported were BlackRock, Inc. ($15.52B, value_qoq_pct 37.6), VANGUARD CAPITAL MANAGEMENT LLC ($11.67B, value_qoq_pct 39.2), STATE STREET CORP ($8.18B, value_qoq_pct 42.5), FMR LLC ($8.04B, value_qoq_pct 25.2), and GEODE CAPITAL MANAGEMENT, LLC ($4.66B, value_qoq_pct 39.7) in the 13F as of 2026-06-30.
13F holdings · 2279 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
A company press release dated October 06, 2026 announced Arista Networks will release financial results for the quarter ended September 30, 2026 after U.S. markets close on Tuesday, November 3, 2026.
News · finance.yahoo.com · 2026-10-06The same earnings-announcement headline was distributed by BusinessWire on October 06, 2026, indicating syndicated/press-release coverage from at least one major wire service.
News · businesswire.com · 2026-10-06Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Kenneth Duda (President and CTO) executed multiple filings on 21 September 2026 showing the acquisition of 17,333 shares valued at "$245k" under a stated 10b5-1 plan and a series of sales that together disposed of 43,333 shares for a combined value of approximately "$9.071M" (net ~26,000-share disposition), all reported on the same Form 4 filing.
Form 4 · Duda Kenneth (President and CTO) · $245k code M · 2026-09-21Andreas Bechtolsheim (reported as a 10% owner) reported four sales on 17 September 2026 that together sold 89,693 shares for a combined value of "$17.5M", with each sale reported as executed under a stated 10b5-1 plan.
Form 4 · BECHTOLSHEIM ANDREAS (10% owner) · $1.4M sold · 2026-09-17Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model calculates an implied free cash flow (FCF) growth rate of 49.82% (0.4982) — described as the FCF growth rate today's price would justify under the stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closePrice-to-free-cash-flow (P/FCF) based on trailing twelve months FCF is 87.92.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several claims jointly present a favorable operational and market-read picture: sequential revenue and gross-profit growth (fundamentals-0, fundamentals-1) accompanied by rising operating income and improving operating margin (fundamentals-3) and higher net income and EPS (fundamentals-4) indicate the company has expanded scale and delivered improving profitability over the reported quarters. Market-metric claims show strong positive price momentum and technical strength (market-0, market-1, market-2), while institutional ownership data (ownership-0, ownership-1) signals notable investor commitment from large managers. Cash on the balance sheet combined with zero long-term debt and substantial trailing free cash flow (valuation-4, valuation-5) provides evidence of financial resources and cash generation. The contested bearish points have limitations: high headline valuation multiples and implied FCF growth (valuation-0, valuation-1, valuation-2, valuation-3) reflect demanding market expectations but are contrasted by robust trailing FCF and improving profitability; insider sales (insider-0, insider-1, insider-2, insider-3) are largely executed under stated 10b5-1 plans and therefore weaker signals of contemporaneous negative information; and certain 10-K risk disclosures (filings-0, filings-1, filings-3) are standard, potentially broad risk statements rather than evidence of immediate operational deterioration. Overall, the strongest evidence strength is in the quarter-to-quarter fundamental improvements and in the market/ownership signals; valuation and risk disclosures are material but weaker as company-specific counters when weighed against recent operating and cash-flow figures.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.38
38 surviving claims rest on 14 distinct sources; the heaviest analyst carries 18% of them, and 96% of what the desk raised survived the debate.
The evidence set is moderately robust: 38 surviving claims draw on 14 distinct sources, so there is some breadth, but a single analyst accounts for a noticeable share of the claims and nearly all proposed points survived debate. Given the relatively high survival rate, these claims have withstood internal scrutiny, yet the concentration in a few contributors and reliance on a limited number of primary filings reduces how much weight a reader should place on any single claim without corroboration.
Peer context · computed, not argued
12-1 momentum ranks 5th of 8 in Computer Hardware (as of 2026-10-06).
90-day volatility ranks 8th of 8 in Computer Hardware (as of 2026-10-06).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
10 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.4 to the score
12 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.8 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.3 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.6 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
2 filings
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.5 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on ANET Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Get this for the names you actually hold
Every name in your portfolio, researched the same way, plus the one thing no sample can show: how each one sits inside what you already own.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.