Investing.com – Arista Networks Stock (NYSE:) rose 19% before falling to a low of $17 after optimistic guidance. This was following strong July and September performances.

Also boosting the stock was the approval by the company’s board for a 4:1 stock split. All shareholders whose names are in the company’s record as of November 11 will receive three additional shares for every held.

The stock was up more than 28% at one time in Tuesday’s trading.

Arista offers software-driven cloud networking products that are optimized for campus and large datacenter environments. As the cloud-driven pandemic has brought about a shift towards cheaper equipment, it has been greatly benefited. Arista’s open-source software allows users to do more programming on their systems.

Fourth-quarter revenues are now expected to reach $785million at the midpoint. This is a 42% increase year-over-year. An adjusted gross margin of 64% is at the bottom end and 65% at its top, which are close to the 65.2% company achieved in this same time last year.

The third-quarter revenue increased by around 24%, or $748.7million year-on-year. The adjusted profit per share rose 54 cents to $2.96 from last year. Both profit and sales were both higher than expected.