UPDATE: Arista Networks (ANET) PT Raised to $268 at Piper Jaffray

(updated to add analyst comment)

Piper Jaffray raised its price target on Arista Networks (NYSE: ANET) to $268.00 (from $230.00) while maintaining a Neutral rating.

Analyst James Fish "The company reported strength across most major metrics in Q4. However, based on our discussions, investors' expectations were likely for a larger 'beat' and Q1 / FY18 guidance was lower than expected. The stock is down ~15% AH as a result of the 'disappointment'. FY18 guidance is prudent and helps to reset an over-extended stock with management noting on our callback that they did not want the stock to get ahead of itself. We continue to believe Arista has the best-in-class solutions, is gaining share, and has a world-class management team, but valuation keeps us on the sidelines"

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