Why Arista Networks Shares Are Dipping Today
Portfolio Pulse from Lekha Gupta
Piper Sandler analyst James E. Fish has downgraded Arista Networks Inc (NYSE:ANET) to Neutral from Overweight while maintaining a price target of $190.00. The downgrade is due to concerns about network spending in both cloud and enterprise in 2024. Despite this, the analyst expects ANET to continue to gain shares in the Enterprise Switching market, led by AI.
October 11, 2023 | 5:08 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Arista Networks has been downgraded by Piper Sandler due to concerns about network spending in 2024. However, the company is expected to continue gaining shares in the Enterprise Switching market.
The downgrade by Piper Sandler is based on concerns about network spending in 2024, which could impact Arista Networks' revenue and profitability. However, the analyst still sees potential for the company in the Enterprise Switching market, which could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100