Arista Networks rated Strong Buy with $216 target, 30% upside on AI and tech growth drivers.

Arista Networks is reaffirmed as a Strong Buy with a $216 price target, suggesting about 30% upside from its current price around $166. Key growth factors include AI Fabrics, 800G switching technology, campus network expansion, software and services growth, deferred revenue conversion, and operating leverage. The analyst projects a 2028 non-GAAP EPS of $5.03, valuing the stock at a 43x forward P/E multiple. Customer concentration remains a risk, but strong growth quality, cash flow, and AI infrastructure relevance support the positive outlook.