This data center network stock could be the next big artificial intelligence play, analysts say.
Analysts on Wall Street think Arista Networks is the next premier artificial intelligence play. On Monday, the company reported a blowout third quarter that surpassed Wall Street expectations on both the top and bottom lines. Arista reported earnings of $1.83 per share, excluding items, on $1.51 billion in revenue. Analysts polled by FactSet forecast $1.58 per share in earnings and $1.48 billion in revenue.
mountain Arista Networks stock. Moving forward, analysts think that the company can be the top player in the Ethernet application of AI. Barclays, Citi, Morgan Stanley and Wells Fargo all lauded the report and highlighted the company's potential AI catalyst for growth heading into 2024. Morgan Stanley's Meta Marshall thinks the company will see more growth on the heels of the adoption of 800G Ethernet transceivers for datacenters.
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