10 AI Stocks Making Moves on Wall Street

8. Arista Networks Inc (NYSE:ANET)

Number of Hedge Fund Holders: 81

Arista Networks Inc (NYSE:ANET) is one of the 10 AI Stocks Making Moves on Wall Street. On October 20, Evercore ISI analyst Amit Daryanani reiterated an Outperform rating on the stock with a $175.00 price target. The firm has added the company to its TAP OP list ahead of third-quarter earnings.

The firm believes that ANET is poised to deliver another beat-and-raise quarter. There is a potential for modest upside as compared to current consensus estimates of $2.26 billion in revenue and $0.71 in earnings per share.

It also anticipates the management to modestly raise its FY25 revenue guidance of $8.75B (~25% y/y) as well as reiterate FY26 targets of ~$10.5B in revenue (~20% y/y) with gross and operating margin ranges of 62–64% and 43–45%.

Evercore ISI also discussed multiple growth drivers for Arista.

“ANET continues to see multiple levers of growth not just through H2:25 but also into CY26/27 – front-end cloud demand, back-end ramps with both new and existing hyperscale and neocloud customers and steady momentum in enterprise/campus markets. Arista is seeing deployments of its co-developed scheduled fabric with Meta, while diversification efforts across cloud customers should support back-end demand. The neocloud opportunity spans both hardware and software, and stronger trends with Broadcom and Oracle further support the growth outlook. Critical to watch is the sustained momentum in their product deferred line as the historical triple digit growth here should give investors conviction on durability of growth over the next 2–3 years. Look for back-end ramps at Meta and OCI sustaining, while MSFT will likely ramp in CY26 (along with other customers). Net/net: Maintain TOP PICK and $175 Target Price.”

Arista Networks Inc (NYSE:ANET) develops, markets, and sells cloud networking solutions.