Arista Networks enjoyed a strong debut Friday as investors jumped to get a piece of a fast-growing, profitable company with disruptive technology taking on giant Cisco Systems. The stock rose 28% to 55, climbing as high as 60 intraday. Arista Networks (ANET) late Thursday sold 5.25 million shares at 43, above the expected IPO range of 36 to 40. The company plans to use most of the $226 million in proceeds to expand market share in
Arista Networks (ANET) lived up to its hype with its initial public offering, as the stock popped in its stock market debut Friday. Arista has tapped into the booming demand for cloud computing with networking technology that manages data traffic at large Internet centers for companies such as Facebook (FB), Yahoo (YHOO), Comcast (CCST) and Citigroup (C). Late Thursday, Arista priced at 43 a share, above its expected range of 36 to 40. The stock
Arista Networks (ANET), which makes ethernet switches for data centers that power the cloud-computing world, priced its IPO at 43 a share, above the expected 36-40 range, and the latest bullish sign for technology new issues. Arista sold 5.3 million shares, raising $225.8 million. It’ll begin trading Friday on the NYSE under ticker ANET. The company is profitable — and fast-growing. Profit shot up 99% last year to $42.5 million as sales leapt 87%