How Will Arista Networks (ANET) Stock React To This Price Target Increase?

NEW YORK (TheStreet) -- Arista Networks  (ANET) price target was increased to $85 from $74 at Bank of America/Merrill Lynch  (BAC) today with a reiterated 'buy' rating.

The firm cited strong out performance with revenues, earnings, and operating margins all above expectations. 

Bank of America believes Arista is well positioned to benefit from the increasing number of cloud deployments and demand for streaming services.

Shares of ANET are up 0.99% to $72.93. 

ANET Chart
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Dow Falls Sharply as Apple's Slump Offsets Gains in General Electric

Dow Falls Sharply as Apple's Slump Offsets Gains in General Electric

Could Spotify Be Next on Amazon's Wish List?

Could Spotify Be Next on Amazon's Wish List?

Sprint, T-Mobile Might Have to Do More Than Make Promises to Get Deal Approved

Sprint, T-Mobile Might Have to Do More Than Make Promises to Get Deal Approved

Skechers Slumps the Most in Two Years After Soft Guidance Overshadows Solid Q1

Skechers Slumps the Most in Two Years After Soft Guidance Overshadows Solid Q1

Video: This Is One Way Millennials Are Destroying Their Financial Future

Video: This Is One Way Millennials Are Destroying Their Financial Future