10 Trending AI Stocks on Latest Analyst Ratings and News

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

Number of Hedge Fund Holders: 65

Arista Networks, Inc. (NYSE:ANET) is an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus and routing environments. Its products are especially relevant for hyperscalers who are ramping up their data center infrastructure for scaling their cloud computing capabilities.

On November 8, Piper Sandler raised the firm’s price target on Arista Networks, Inc. (NYSE:ANET) to $421 from $345 and kept a “Neutral” rating on the shares. The company has reported Q3 earnings per share of $2.40, surpassing analysts’ forecast of $2.08. Its revenue was $1.81 billion, a 7% year-over-year increase and surpassing the $1.75 billion analysts’ expectation. Gross margin, however, fell to 64.2% in the third quarter, thinner than the previous quarter’s 64.9%. Per the analyst, Arista is a “best-in-class” networking name and one of the favorite long-term plays of the firm.  However, they are still waiting for a better buying opportunity and expect more information on the company’s potential catalysts later this month.