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Arista Networks (NYSE:ANET) is 7.3% larger the day after its analyst day adopted up this week’s earnings report that includes document revenues.
And Piper Sandler has reacted to the displays by upgrading the inventory to Obese, from Impartial, although it says it is “barely late” to that social gathering.
There have been optimistic “breadcrumbs” alongside the way in which, however the occasion gave Piper extra confidence in visibility and sustainable development, analyst James Fish says.
The occasion’s message was targeted on 2023 potential (of greater than 25% development), sustainability of cloud buyer demand, a “renewed push” on enterprise share good points and a few “principally optimistic” up to date long-term mannequin targets, Fish notes.
“Core to our thesis is the flush of backlog that’s causation for >25% 2023 development, high-quality and resilient buyer base (together with hyperscalers) in a difficult macro-environment, enterprise share good points, launch of latest options (together with SD-WAN & NaaS), 400G/800G cycle wherein Arista maintains topshare, margin elevate from best-in-class group, and optimistic risk-reward heading into 2023,” he says.
Fish raised his worth goal to $164 from $126, implying 25% upside.
That social gathering that Fish famous he was “barely late” to consists of broadly optimistic Wall Avenue Analysts, who fee the inventory a Purchase total with greater than a dozen at Robust Purchase.
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