On August 11, Arista Networks rose 3.09% in regular trading, trading near $197.01/share, with turnover of approximately $201 million. The stock continues to rally following a blowout Q2 earnings report and a wave of institutional target price increases.

On the news front, BNP Paribas raised its target price from $200 to $248, maintaining an Outperform rating. This follows Evercore ISI's upgrade to $250 and Morgan Stanley's increase to $220. The FactSet consensus target now stands at $246.76 with a Buy rating. UBS noted the company's raised full-year revenue growth outlook still likely understates its momentum, citing strong product deferred revenue and strengthening AI-related demand.

Fundamentally, Arista reported Q2 revenue of $3.04 billion, up 37.7% year-over-year, significantly exceeding the $2.818 billion consensus estimate. Adjusted EPS came in at $1.02, beating expectations by 14.6%. Q3 guidance was equally impressive, with projected revenue of approximately $3.3 billion versus the Street's $2.94 billion estimate, driven by robust AI-powered networking equipment demand from hyperscale data center customers.

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