Argus analyst Jim Kelleher raised the firm’s price target on Arista Networks to $195 from $175 and keeps a Buy rating on the shares. Following 100%-plus growth in 2022, cloud titan spending is expected to slow in 2023, but gross margin and operating margins are forecast to rise as the year progresses, the analyst tells investors in a research note. Having navigated the supply-chain crisis, Arista is now successfully managing through macroeconomic weakness, customer caution, cost inflation, and cloud titan inventory digestion, while expanding its solutions set and total addressable market, the firm added.
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Read More on ANET:
- Arista Networks price target raised to $151 from $146 at Credit Suisse
- 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