Evercore and Goldman Sachs Stay Bullish on Arista Networks (ANET)

Arista Networks, Inc. (NYSE:ANET) is one of the 10 Best AI Stocks to Buy for the Next 10 Years. On February 24, Evercore ISI reiterated its Outperform rating on Arista Networks, Inc. (NYSE:ANET) with a price target of $200.

This update came after Advanced Micro Devices, Inc. (NASDAQ:AMD) and Meta Platforms, Inc. (NASDAQ:META) announced a major 6-gigawatt agreement to power Meta Platforms, Inc.’s (NASDAQ:META) next generation of AI infrastructure across multiple generations of AMD Instinct GPUs.

Evercore noted that this is a strong positive for Arista Networks, Inc. (NYSE:ANET) as it is well-positioned to gain a larger share in AMD clusters. The research firm pointed out that as spending on computing becomes diversified, Arista Networks, Inc. (NYSE:ANET) stands to benefit and remains a “unique beneficiary” as model builders invest to expand their network infrastructure.

Earlier, on February 13, Goldman Sachs raised its price target on Arista Networks, Inc. (NYSE:ANET) from $165 to $188 and kept its Buy rating on the stock. The firm believes the company is in a good position to benefit from rising data demand, cloud migration, and the need for higher bandwidth and lower latency.

Goldman Sachs noted that Arista Networks, Inc. (NYSE:ANET) is expected to deliver strong double-digit growth in both revenue and earnings per share, which will be supported by expansion in data centers, enterprise networking efforts, and ongoing investment in research, development, and sales.

Arista Networks, Inc. (NYSE:ANET) is a cloud networking company that provides data-driven solutions for large data centers, AI, campus, and routing environments.

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