AAL

Analyst Targets 30% Upside for Arista Networks Stock

It's been a choppy trading year for ANET stock

Dec 6, 2018 at 1:31 PM
facebook X logo linkedin


BofA-Merrill Lynch upgraded Arista Networks Inc (NYSE:ANET) stock to "buy" from "neutral,"  and reiterated its $300 price target -- a nearly 31% premium to Tuesday's close. The brokerage firm cited potential growth opportunity in new markets like routing and wireless LAN, given "management's excellent execution history."

As such, ANET stock is showing resilience during today's broad selling, up 1% at $231.99. The shares have been choppy this year, coming into 2018 trading near $235.60, and then breaking out to a then-record high above $311 in mid-February. The security pulled back to a short-term support in the $250 region -- home to an early January bull gap -- before hitting an all-time peak of $313.30 on Aug. 24. A sharp pullback from here was contained near $220, though subsequent rallies have been contained by that former floor and the equity's 50-day moving average.

anet stock daily price chart on dec 6

Analysts are mostly upbeat toward the networking hardware name. While just under half of the 22 brokerages in coverage maintain a "hold" or "strong sell" rating, the average 12-month price target sits all the way up at $298.14.

Short sellers, meanwhile, have been exiting their bearish positions en masse. Short interest plunged 41.6% in the two most recent reporting periods, to 1.86 million shares. This represents a low 3.5% of ANET's available float, and would take roughly two days to cover, at the average pace of trading.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.