Evercore ISI has adjusted its outlook on Arista Networks (ANET, Financial), reducing the stock's price target from $130 to $100. Despite this reduction, the firm maintains an Outperform rating on the company and has included it in its "Tactical Outperform" list.
According to Evercore ISI analyst Amit Daryanani, Arista Networks has recently become a popular short-sell target in the market. Nonetheless, the company is positioned to surpass and sustain its previously issued revenue guidance, which is set against the lowest expectations observed for the stock in recent years.
This strategic move reflects Evercore's confidence in Arista's ability to perform well, even amid market skepticism and reduced stock expectations.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Arista Networks Inc (ANET, Financial) is $109.73 with a high estimate of $145.00 and a low estimate of $73.00. The average target implies an upside of 49.12% from the current price of $73.59. More detailed estimate data can be found on the Arista Networks Inc (ANET) Forecast page.
Based on the consensus recommendation from 25 brokerage firms, Arista Networks Inc's (ANET, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Arista Networks Inc (ANET, Financial) in one year is $84.93, suggesting a upside of 15.41% from the current price of $73.59. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Arista Networks Inc (ANET) Summary page.
