Arista Networks Inc (ANET) soared by 17.49% on Wednesday, closing at $138.78 per share. KeyBanc raised its price target for ANET to $145, citing strong earnings and bullish outlooks from clients Meta and Microsoft. Hyperscale cloud capex expected to increase by over 50% this year.

Piper Sandler also raised its price target for ANET to $143 but remained neutral on the stock. ANET’s Q2 net income rose by 33.6% to $888.8 million, with revenues increasing by 30% to $2.2 billion year-on-year. Piper Sandler cautious about new investments at current valuation levels.

While ANET shows promise, some believe other AI stocks offer greater returns with limited downside risk. For those seeking an affordable AI stock with potential benefits from Trump tariffs and onshoring, a free report is available on the best short-term AI stock.

Read more at Yahoo Finance: Arista Networks (ANET) Soars 17% on Impressive Income, Bullish Ratings