Latest Analyst Views on Coatue’s Favorite 33 AI Stocks

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21. Arista Networks, Inc. (NYSE:ANET)

Number of Hedge Fund Holders: 78

Citi recently raised the price target on Arista Networks, Inc. (NYSE:ANET) to $112 from $97 and kept a Buy rating on the shares. Arista engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments. The advisory, which expects the company to double its share in the Ethernet AI back end in FY25 and anticipates upward revisions to FY25 and FY26 estimates, believes the company is on track to achieve its $750 million AI back-end target for FY25, which would reflect nearly 20% share. The advisory’s estimates are unchanged, but it raised its multiple given Arista’s rising AI market share and higher market multiples.

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