Arista dips as Stifel cuts to Hold on valuation

|About: Arista Networks, Inc. (ANET)|By:, SA News Editor

Arista Networks (NYSE:ANET) is off 1.7% today, pulling off recent all-time highs, as Stifel Nicolaus cuts to Hold following a solid year for the stock price.

Arista shares are up 8% over the past month, up 33.5% over the past three, and up 52.4% over the past six months and have more than doubled in the past year.

The stock's now at the high end of its historical range on enterprise value to EBITDA, Stifel notes, at around 17 times, and at more than five times enterprise value to sales.

The stock's still well positioned against competitors, notes analyst Aaron Rakers, who's raised the firm's price target on Arista to $135 from $130, implying about 3.8% upside from today's price.