Analyst Amit Daryanani from Evercore ISI maintained a Buy rating on Arista Networks (ANET – Research Report) and keeping the price target at $130.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Amit Daryanani has given his Buy rating due to a combination of factors, including Arista Networks’ strong financial performance and strategic positioning. Arista reported better-than-expected results for the December quarter and provided guidance for the March quarter that surpassed street expectations. This indicates a positive growth trajectory for the company.
Despite concerns over Meta’s reduced contribution to Arista’s revenue, Daryanani remains optimistic, noting that similar historical declines in Meta revenue were followed by significant growth. Furthermore, Arista’s raised revenue growth guidance to the high end of previous estimates, along with potential tailwinds from international enterprise growth and acceleration at other major clients like Oracle, supports a positive outlook. Overall, Daryanani maintains an Outperform rating with a target price of $130, reflecting confidence in Arista’s ability to exceed expectations and capitalize on market opportunities.
Daryanani covers the Technology sector, focusing on stocks such as Apple, Western Digital, and International Business Machines. According to TipRanks, Daryanani has an average return of 14.2% and a 61.20% success rate on recommended stocks.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $118.00 price target.