Arista Networks Faces Several Price Target Increases After Upbeat Q2 Earnings, But This Analyst Disagrees

Arista Networks, Inc. ANET reported better-than-expected Q2 results and also issued Q3 sales guidance above analyst estimates.

Arista Networks shares gained 5.4% to $124.00 in pre-market trading.

Several analysts made changes to their price targets on Arista Networks following the release of results.

Below are the analysts raising price target on Arista Networks.

• Credit Suisse raised price target on the stock from $178 to $185. However, Credit Suisse analyst Sami Badri maintained Arista Networks with an Outperform.
• Piper Sandler increased Arista Networks price target from $108 to $125. However, Piper Sandler analyst James Fish maintained a Neutral rating on the stock.
• Morgan Stanley increased the price target on the stock from $114 to $125. However, Morgan Stanley analyst Meta Marshall maintained an Equal-Weight rating on the stock.
• Needham raised the price target on the stock from $128 to $140. However, Needham analyst Alex Henderson maintained a Buy rating on the stock.
• Citigroup boosted Arista Networks price target from $160 to $170. However, Citigroup analyst Jim Suva maintained the stock with a Buy.
• JP Morgan raised price target on Arista Networks from $150 to $160. However, JP Morgan analyst Samik Chatterjee maintained an Overweight rating on the stock.

However, below is the analyst cutting price target on Arista Networks.

• Barclays reduced price target on Arista Networks from $138 to $131. However, Barclays analyst Tim Long maintained an Equal-Weight rating on the stock.