Arista Networks price target raised to $188 from $165 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Arista Networks (ANET) to $188 from $165 and keeps a Buy rating on the shares. Arista Networks is well-positioned to benefit from growing data demand, cloud migration, and the need for higher bandwidth and lower latency, with nearly half of 2024 revenue coming from hyperscale cloud customers, the analyst tells investors in a research note. The company is expected to achieve strong double-digit revenue and EPS growth over the next several years through data center expansion, enterprise networking initiatives, and ongoing R&D and sales investments, the firm says.