Most analysts, anyway: Goldman Sachs is sticking with a Sell rating, crediting the strong quarter to Microsoft "pulling forward demand into 2016 to ensure adequate supply." It's a risky period of execution for Arista, Simona Jankowski says, and that's not fully accounted for in the valuation.
Meanwhile, Needham raised its price target to $130 from $110, implying nearly 10% upside. Stifel Nicolaus boosted its target to $125 from $102.
Jefferies has a price target of $100 -- even with yesterday's close but below today's higher quotes -- but upgraded the stock to Hold from Underperform, noting "We now believe that — in the highest-probability scenario — Arista's legal problems won't affect their core business in any significant way."