Arista Networks Inc (NYSE:ANET) is one of the Hot AI Stocks on Wall Street’s Radar. On August 7, Barclays raised its price target on the stock to $151.00 from $119.00, while maintaining an Overweight rating after the company posted its second-quarter earnings report.
The company beat expectations in its second quarter and issued guidance for both the third quarter and fiscal year 2025, exceeding market forecasts. The beat has helped put investor concerns to rest, the analysts noted. Arista also revised its 2025 growth projection upward to 25% year-over-year.
A computer network engineer operating a control panel with a view of a server room in the background.
It also increased its campus segment forecast, anticipating it to surpass $1.5 billion in AI networking revenues for the year. The firm also noted that Arista’s strength was broad-based across AI, cloud, and enterprise segments.
Overall, Barclays remains optimistic about Arista’s execution capabilities. It believes the networking equipment provider will achieve over $10 billion in revenues by 2026. It also said that the company’s growth prospects are extensive, with potential upside to its long-term mid-teens revenue CAGR.
Arista Networks Inc (NYSE:ANET) develops, markets, and sells cloud networking solutions.
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