According to the U.S. Securities and Exchange Commission (SEC) filing, the firm intends to price its 4.8 million shares at $137 each. At this price, the entire offering is valued up to $657.6 million.
Chart brings technical point of view. ANET fundamentals are strong, growth point of view it is low point now. It can not go down below $210. Check Morningstar report for their FVE, it is around $207
Companies like ANET, UBNT are buy and hold for longer period (I have to repeat myself so that I do not sell in future !!), they are profitable, growing and have cash (debt free ANET alone).
The current ANET price down may be insiders (employees insider window) are allowed to sell stocks after results.
If it reaches around 225 or 220, I may grab more. Report on Feb 15th when it was 249.49 price.
IMO, ANET is too good, based on Morningstar, between $210 and $230. I took some at 250, then 240, waiting further. ANET went too high and it is getting corrected now.
Good Small Caps are best to buy at low as they have better opportunities to grow or take over. When they are making good progress, but Mr.Market killing them down, is an opportunity to buy.
ANET, UBNT and SHOP are good to take, buy and hold. I bought a small portion of these. OLED is next one to look at it as it is 37.5% down from peak. Need to watch and get it at right time.