Arista Networks rises after J.P. Morgan adds co to Analyst Focus List

Shares of cloud networking firm Arista Networks rise more than 1.5% to $84.8 in early trading

J.P. Morgan adds co to its Analyst Focus List

Brokerage says there is limited materiality to concerns about aggregate AI spending from cloud customers as well as company-specific concerns in relation to share loss to White box companies

White box solutions refer to non-branded switches available off the shelf

Brokerage rates co "overweight" with PT of $140

Last month, co forecast first-quarter revenue above Wall Street estimates

Twenty of 24 brokerages rate stock "buy" or higher, three "hold", one "sell"; median PT is $119.75 - data compiled by LSEG

Stock down ~24.5% YTD as of last close; it rose more than 87.7% in 2024