Arista Networks price target raised to $380 from $340 at Jefferies

Jefferies analyst George Notter raised the firm’s price target on Arista Networks (ANET) to $380 from $340 and keeps a Buy rating on the shares following what the firm calls “another strong print and guide.” The firm was also “intrigued” by Jayshree Ullal’s comment that the company hopes to get a fifth trial for AI-backend switching, noting that the company previously talked about having won four out of five major Cloud trials for AI/back-end networking. Jefferies believes the fifth customer – where they didn’t participate – was Microsoft (MSFT) and says a new trial at Microsoft might suggest that Arista can displace some InfiniBand usage at the account.