Top 5 Gainers Today

In this article, we discuss the top 5 gainers today. If you want to see some more stocks moving higher on Tuesday, go directly to Top 10 Gainers Today.

5. Arista Networks, Inc. (NYSE:ANET)

Number of Hedge Fund Holders: 48

Shares of Arista Networks, Inc. (NYSE:ANET) rose over four percent in the mid-day trading session today. The surge came after the computer networking company delivered impressive financial results for Q3 and a solid outlook for the current quarter.

Arista Networks, Inc. (NYSE:ANET) earned $1.25 per share on an adjusted basis, significantly higher than 74 cents per share in the year-ago period and above the consensus of $1.04 per share. Revenue for the quarter skyrocketed 57 percent versus last year to $1.177 billion, smashing expectations of $1.05 billion.

For the fourth quarter, Arista Networks, Inc. (NYSE:ANET) projected revenue in the range of $1.175 – $1.2 billion. The guidance is above analysts’ average estimate of $1.09 billion.

Discussing the results, CEO Jayshree Ullal said:

“Arista continues to outpace our networking peers with record revenue in Q3 2022. Clearly, we are entering the next phase of Arista’s evolution in products, customer intimacy and new market expansion.”