On Wednesday, Matthew Niknam, an analyst with Deutsche Bank, began covering Arista Networks (NYSE:ANET), stating that the networking technology business has the potential to increase its market share in the data center industry.
According to Niknam, Arista (ANET), which competes with companies like Cisco Systems (CSCO) and Juniper Networks (JNPR), is in a position to expand its market share in the software and services cloud networks and data center switching sectors.
Furthermore, Niknam stated that these possibilities should assist Arista (ANET) in nearly doubling its sales from $2.9 billion in 2021 to $5.7 billion in 2025.
Niknam also set a price objective of $135 per share for Arista’s (ANET) stock.
Arista’s (ANET) shares currently have a consensus buy rating from Wall Street analysts, while experts at Seeking Alpha rate the stock with a hold recommendation. Meanwhile, Arista’s (ANET) shares have a high buy rating from Seeking Alpha’s quantitative methodology, which frequently beats the stock market.
Recently, a number of more research analysts from Deutsche Bank Aktiengesellschaft have commented on ANET. In a research report published on Wednesday, July 20th, Bank of America dropped its target price for Arista Networks from $140.00 to $105.00 and downgraded the stock from a “buy” rating to a “underperform.” In a research note published on Tuesday, August 2nd, Credit Suisse Group raised their price target on shares of Arista Networks from $178.00 to $185.00 and rated the stock with a “outperform” recommendation.
In a research note published on Tuesday, August 2nd, Evercore ISI increased their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “outperform” rating. In a research note published on Tuesday, August 2nd, Needham & Company LLC raised their price objective on shares of Arista Networks from $128.00 to $140.00 and rated the company as a “buy.”
Finally, in a research note published on Tuesday, August 2nd, Rosenblatt Securities raised their price objective for shares of Arista Networks from $140.00 to $155.00 and rated the stock as a “buy.” MarketBeat has assigned Arista Networks a “Moderate Buy” rating with an average target price of $157.53.
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Author Jowi Kwasu 
