Arista Networks price target raised to $421 from $345 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Arista Networks (ANET) to $421 from $345 and keeps a Neutral rating on the shares following third quarter results. This was a quarter that had a very high bar heading into it, according to the firm and Piper said it was not too surprised by the sell-off after-hours. Arista is a “best-in-class” networking name and one of the firms favorite long-term plays, but it continues to await a better entry point and expects to hear more details around catalysts ahead later this month, Piper told investors in a research note.