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Why Arista Networks (ANET) Stock Is Higher Today

NEW YORK (TheStreet) -- Arista Networks (ANET - Get Report) shares are up 0.93% to $72.89 today after it announced a strategic relationship with VMware (VMW - Get Report) to enable customers to accelerate adoption of network virtualization through Arista Networks in VMware's software-defined data center. 

This new collaboration builds on the four year relationship between Arista, the computer networking company, and VMware, the cloud and virtualization software firm.

Earlier, Citigroup (C - Get Report) upgraded its rating on Arista to "buy" from "neutral."

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Morgan Stanley (MS) increased its price target on the stock to $84 from $77.

Bank of America/Merrill Lynch (BAC - Get Report) increased its price target to $85 from $74, as the bank believes Arista is well positioned to benefit from the increasing number of cloud deployments and demand for streaming services.

ANET Chart

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ANET $66.08 3.90%
C $44.04 -0.43%
BAC $14.03 -0.14%
VMW $55.03 -0.67%
AAPL $91.90 -1.40%


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DOW 17,680.37 +19.66 0.11%
S&P 500 2,050.19 -0.44 -0.02%
NASDAQ 4,710.1590 -6.9350 -0.15%

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