Arista Networks price target raised to $145 from $143 at Piper Sandler

Piper Sandler raised the firm’s price target on Arista Networks (ANET) to $145 from $143 and keeps a Neutral rating on the shares. The firm notes shares were down about 10% after hours given the high expectations heading into the print in which revenue and product billings did decelerate, the Q4 exit rate wasn’t raised by as much as bulls were looking for, and while unsurprising given management’s typical cadence, 2026 outlook given at the analyst day was unchanged. It was encouraging to see prod deferred build quarter-over-quarter another $625M, all while purchase commitments / inventory were up significantly that suggests new product traction and backlog with large Cloud and AI Titans, Piper argues.