Do Wall Street Analysts Like Arista Networks Stock?

With a market cap of $171.8 billion, Arista Networks, Inc. (ANET) develops and delivers data-driven networking solutions for AI, cloud, data center, campus, and routing environments, serving customers across the Americas, Europe, the Middle East, Africa, and Asia-Pacific. It offers its Extensible Operating System (EOS), cloud and AI networking products, cognitive network software and services, and customer support solutions to industries including finance, healthcare, government, manufacturing, and media.

Shares of the Santa Clara, California-based company have exceeded the broader market over the past 52 weeks. ANET stock has soared 57.7% over this time frame, while the broader S&P 500 Index ($SPX) has increased nearly 31%. However, shares of the company have risen 4.1% on a YTD basis, lagging behind SPX's 8.3% gain.

Looking closer, the stock has underperformed the State Street Technology Select Sector SPDR ETF's (XLK) 63.5% return over the past 52 weeks. 

Despite reporting better-than-expected Q1 2026 revenue of $2.71 billion and adjusted EPS of $0.87 on May 5, shares of Arista Networks tumbled 13.6% the next day as investors focused on worsening supply constraints and delayed revenue recognition. The company said wafer fab shortages, semiconductor supply de-commits, and extended lead times beyond 52 weeks were limiting its ability to meet strong AI-driven demand, while deferred product revenue jumped by approximately $643 million to $3.63 billion in the quarter. 

Although Arista raised its full-year 2026 revenue growth forecast to 27.7%, concerns that supply bottlenecks could delay AI-related upside and pressure future gross margins weighed heavily on the stock.

For the fiscal year ending in December 2026, analysts expect Arista Networks' EPS to grow 18.1% year-over-year to $3.20. The company's earnings surprise history is promising. It beat the consensus estimates in the last four quarters.

Among the 26 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 22 “Strong Buy” ratings, two “Moderate Buys,” and two “Holds.”

On May 7, UBS analyst David Vogt increased the price target for ANET to $187 and maintained a “Buy” rating on the stock.

The mean price target of $187.01 represents a 37.1% premium to ANET’s current price levels. The Street-high price target of $210 suggests a 53.9% potential upside.