Arista Networks (ANET) PT Raised to $148 at Barclays; Leveraging HPE Partnership and Momentum Building

Barclays analyst Mark Moskowitz raised his price target on Arista Networks (NYSE: ANET) to $148.00 (from $125.00) while maintaining an Overweight rating.

Moskowitz commented, "... Arista already appears to be leveraging its partnership with HP Enterprise for greater telco service provider exposure, has gained data center switching share faster than anticipated, and announced ~50 routing customers."

The analyst highlighted that according to Dell'Oro data, Arista grew data center switching share to 9.5% in Dec-Q, up from 9.0% in Sep-Q and 7.9% a year ago.

He added, "We still believe the major thrust of Arista's move into routing is 2-3 years away, but we are encouraged that Arista announced ~50 routing customers during its last earnings call."

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