News

Arista Networks Sees Rise after Bullish Call on Networking Provider

1 Mins read

By Eric J. Savitz

Arista Networks’ shares experienced an uptick on Thursday following a positive rating from Citi analyst Atif Malik. Malik raised his rating on Arista stock to Buy from Neutral, setting a new target price of $220, up from $177.

Pre-market trading showed Arista shares up by 2.9% to $192.56.

Arista Positioned as “Best House in Networking Neighborhood”

According to Malik’s research note, Arista Networks remains the leader in the networking industry, with over 40% of its customer base dedicated to the cloud. This concentration is significantly higher than its competitors, Cisco and Juniper. Additionally, Arista continues to thrive in the data center switch market and is well-positioned to capitalize on the growth of the generative AI networking hardware market.

Mixed Results from Arista’s Largest Customers

The capital spending results from Arista’s two largest customers, Microsoft and Meta Platforms, were a mixed bag in the June quarter. While Microsoft exceeded expectations, Meta reduced its capital spending plans for the year. However, Malik believes that despite these mixed results, Wall Street and Arista management were prepared for worse outcomes. He now views his previous caution regarding Arista’s growth outlook as overly pessimistic.

As Arista Networks garners praise from analysts and demonstrates strength in key markets, investors can look forward to potential future growth and developments.

Related posts
News

Semler Scientific Amplifies Bitcoin Investments, Solidifying Its Position in Digital Assets

1 Mins read
Semler’s strategic direction offers insights for other institutional investors.Trending NowBest Forex Trading Robots To Invest In 2022 U.S.-based medical technology company Semler…
News

IMF commends Sri Lanka's new govt for reform continuation

1 Mins read
COLOMBO, Apr 25: The International Monetary Fund (IMF) on Friday commended the Sri Lankan government, led by President Anura Kumara Dissanayake, for…
News

U.S. Federal Reserve revokes crypto guidance for banks

1 Mins read
25th April 2025 – (Washington) The U.S. Federal Reserve announced on 24th April that it will withdraw previous guidance requiring state member…

Leave a Reply

Your email address will not be published. Required fields are marked *

+ 80 = 88