Arista Networks Gains 1.7% on AI Demand Amid Analyst Upgrades

Arista Networks' shares rose 1.7% on Thursday, reaching $184.15 after climbing as high as $189.82, with trading volume up 13% to about 9.9 million shares. Analysts highlighted the company's role in AI infrastructure, boosting sentiment and prompting several target‑price hikes – Morgan Stanley lifted its objective to $190, JPMorgan to $200, and Bank of America to $200, while a few analysts trimmed targets slightly. Insider sales were noted, including a 240,000‑share transaction by co‑founder Andreas Bechtolsheim under a pre‑arranged plan.

Institutional investors also increased exposure: Cvfg LLC added roughly 53,000 shares, bringing its holding to 54,520 shares valued at $6.7 million, and hedge funds now own about 82.5% of the company’s stock. The firm reported first‑quarter earnings of $0.87 per share, beating the $0.81 consensus, with a 38.3% net margin and revenue of $2.71 billion, up 35.1% year‑over‑year. Guidance for the next quarter targets EPS of $0.88.