Arista Networks can work to ‘$300+ levels’ over time, says Evercore ISI

Evercore ISI raised the firm’s price target on Arista Networks to $180 from $160 and keeps an Outperform rating on the shares. The firm thinks Arista remains well positioned to sustain high teens revenue growth and a greater than 20% EPS compound annual growth rate over the next several years, adding that it sees Arista "becoming a networking platform company" that can offer solutions ranging from switching to security to analytics/observability, all within their differentiated EOS offering. The firm adds that it thinks Arista has a "path towards $10+ EPS in the long run that should result in ANET stock working to $300+ levels" and calls the stock a "top pick."