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Investing.com - BofA Securities raised its price target on Arista Networks (NYSE:ANET) to $175 from $155 while maintaining a Buy rating following the company’s Analyst Day. The network solutions provider, currently valued at $192.35 billion, has seen its stock surge 38.46% year-to-date, with analysts maintaining a bullish consensus.
The firm highlighted Arista’s superior technology and innovation capabilities that position it well against competitors, including its ability to compete with white boxes through "blue box" innovation.
BofA noted that Arista has expanded its total addressable market projection to $105 billion by 2029, up from a previous estimate of $60 billion for 2027, driven by new target markets.
The company is expanding opportunities across multiple verticals including Enterprise, Neo Clouds, and Cloud Titans, according to the research note.
Management provided specific financial targets for 2026, projecting campus revenue growth from $750 million in 2025 to $1.25 billion in 2026, while AI revenue is expected to increase from $1.5 billion in 2025 to $2.75 billion in 2026.
In other recent news, Arista Networks has been the focus of several analyst updates following its recent financial disclosures. The company reported second-quarter results that surpassed expectations, with product billings showing over 50% growth. This strong performance has led to several firms adjusting their price targets for Arista Networks. Goldman Sachs raised its target to $175, citing the company’s updated financial framework and projected revenue growth. Wolfe Research increased its target to $185, highlighting Arista’s role in enhancing data center efficiency, particularly in artificial intelligence environments. Piper Sandler adjusted its target to $143, noting the company’s impressive growth metrics. KeyBanc also raised its target to $145, pointing to strong AI demand and expanding opportunities in various markets. Meanwhile, Raymond James maintained a Market Perform rating, acknowledging Arista’s performance obligations and booking strengths. These developments underscore the company’s growing influence in the tech sector.
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