On August 3, Arista Networks fell 3.58% in regular trading, trading at $175.755/share, with turnover of $162 million.

On the news front, the communication equipment sector came under broad selling pressure, with peers Ciena down 3.08%, Nokia down 1.75%, Lumentum down 1.28%, and Cisco down 1.16%, dragging sector sentiment lower. The stock had previously rallied over 8% cumulatively on July 30-31 as the sector rebounded from a 15%-plus drawdown, leaving significant short-term profit-taking pressure.

Arista Networks is scheduled to report Q2 earnings after market close on August 4. Consensus estimates call for revenue of $2.818 billion, representing 33.66% year-over-year growth, and adjusted EPS of $0.89, up 36.28% year-over-year. At approximately 55x forward P/E, investors opted to lock in gains ahead of the report rather than hold through the event risk.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)