Arista Networks price target raised to $268 from $254 at Piper Sandler

Piper Sandler raised the firm’s price target on Arista Networks to $268 from $254 on higher 2025 estimates, while keeping a Neutral rating on the shares. With a near-peak valuation and elation, Arista needed a near perfect print/guide that investors just didn’t get, the firm says. While margins are amazingly strong, timing of shipments, which Piper estimates at over $100M, led to some reported disappointment, Piper adds. Many may look at the 2024 overall guide being reiterated as conservative, but the firm views it as prudent given the cyclicality of the space, uncertainty with AI Ethernet shipments, and introduction of a new CFO.