Credit Suisse analyst Sami Badri raised the firm’s price target on Arista Networks to $151 from $146 and keeps a Neutral rating on the shares. The firm notes the company reported results ahead of expectations and moved full year 2023 revenue growth guidance slightly higher to 26% year-over-year from 25% year-over-year growth in Q4 2022. Stock’s negative reaction to the beat-raise was likely a function of visibility with cloud customers narrowing and high expectations on AI workloads into the results report, Credit Suisse says.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ANET:
- Arista (NYSE:ANET) Stock Falls Despite Upbeat Q1 Results
- Arista Networks price target raised to $179 from $177 at Barclays
- Arista Networks sees Q2 revenue $1.35B-$1.4B, consensus $1.35B
- Arista Networks reports Q1 adjusted EPS $1.43, consensus $1.34
- Notable companies reporting after market close
Questions or Comments about the article? Write to editor@tipranks.com