Arista Networks price target raised to $300 from $240 at Evercore ISI

Evercore ISI raised the firm’s price target on Arista Networks to $300 from $240 and keeps an Outperform rating on the shares after the company reported December-end quarter revenue and EPS upside. While the stock was down over 5% in after-hours trading, reflecting the lack of revenue upside in March-end quarter guidance, the firm thinks Arista remains well positioned to sustain high teens top-line growth over the next several years and likely do so with a better end-market diversity, the analyst tells investors.