10 AI News You Shouldn’t Miss

7. Arista Networks, Inc. (NYSE:ANET)

Number of Hedge Fund Holders: 65

Arista Networks, Inc. (NYSE:ANET) is an American computer networking company engaged in the development, marketing, and sale of cloud networking solutions. The company’s products are especially relevant for hyperscalers as it offers networking solutions tailored for AI platforms.

On November 5th, Bank of America reiterated Arista Networks as a “Buy”. The firm states that it sees share gains ahead for the networking equipment company.

“We raise our Arista PO to $455 from $380, still based on a 42.5x forward P/E multiple on the back of Meta and Microsoft’s strong CapEx commentary, reflecting the company’s growing opportunity in AI Ethernet networking buildouts.”

-Bank of America analyst