Analyst Consensus ?
ConsensusBuy52 ratings
Bullish4178.8%
Neutral1121.2%
Bearish00.0%
Arista Networks, Inc. · ANET · FY2026 Q1 · Calendar Q2 2026
Arista Beats Q1 Revenue and EPS, Raises FY2026 Outlook on AI Strength
Arista Networks delivered 35% YoY revenue growth to $2.71B in Q1 FY2026, beating consensus on both revenue ($2.71B vs $2.62B est.) and EPS ($0.87 vs $0.81 est.). Management raised the full-year revenue outlook to $11.5B (27.7% growth), with the AI segment targeted at $3.5B -- more than double the prior year. The launch of XPO pluggable optics (12.8 Tbps per module, 204.8 Tbps per rack unit) and expanding AI fabric capabilities position Arista for next-generation high-speed AI rack deployments beginning in 2027. Supply-chain constraints on wafers, silicon, and memory persist, but the company is mitigating this through $8.9B in purchase commitments and disciplined pricing. Despite the beat-and-raise, shares posted a -14.99% abnormal move in the reaction window before recovering +12.89% in subsequent drift. With the stock at $170.76 versus analyst consensus target of $186.67, the market…
Reported After market closeNYSETechnology
$215.02B market cap
90quality score
Company context
Snapshot as of publicationArista Networks, Inc. is a leading global technology firm that designs, promotes, and distributes innovative cloud networking solutions across the Americas, Europe, the Middle East, Africa, and Asia-Pacific regions. Its comprehensive product portfolio features advanced extensible operating systems, a collection of powerful network applications, and high-performance gigabit Ethernet switching and routing hardware.…
Earnings scorecard
Reported versus consensus
Reported EPS
$0.87
Consensus $1
EPS surprise
+7.7%
Reported versus consensus
Reported revenue
$2.71B
Consensus $2.62B
Revenue surprise
+3.4%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$199.59Current
$87.5Low
$216.1Average
$430High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Deutsche Bank | Buy | Hold | Upgrade | Sep 1, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 6, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 5, 2026 |
| UBS | Buy | Buy | Maintain | Aug 5, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 5, 2026 |
| TD Cowen | Buy | Buy | Maintain | Aug 5, 2026 |
| Rosenblatt | Buy | Buy | Maintain | Aug 5, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 5, 2026 |
| Needham | Buy | Buy | Maintain | Aug 5, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 5, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Aug 5, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 5, 2026 |
| B of A Securities | Buy | Buy | Maintain | Aug 5, 2026 |
| Citigroup | Buy | Buy | Maintain | May 6, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Apr 16, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 13, 2026 |
| Wolfe Research | Outperform | Outperform | Maintain | Sep 12, 2025 |
| Melius Research | Buy | Buy | Maintain | Sep 12, 2025 |
| Jefferies | Buy | Buy | Maintain | Jul 31, 2024 |
| Oppenheimer | Perform | Perform | Maintain | Feb 13, 2024 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Feb 13, 2024 |
| Argus Research | Buy | Buy | Maintain | Aug 2, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | May 2, 2023 |
| Loop Capital | Buy | Buy | Maintain | Feb 14, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 14, 2023 |
| Cleveland Research | Buy | Neutral | Upgrade | Dec 17, 2021 |
| MKM Partners | Buy | Buy | Maintain | Aug 3, 2021 |
| Nomura Instinet | Neutral | Neutral | Maintain | May 6, 2020 |
| Nomura | Neutral | Neutral | Maintain | May 6, 2020 |
| New Street Research | Buy | Buy | Maintain | Nov 19, 2019 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Nov 1, 2019 |
| Stifel | Hold | Buy | Downgrade | Nov 1, 2019 |
| Piper Jaffray | Overweight | Overweight | Maintain | Nov 1, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Nov 1, 2019 |
| BMO Capital | Outperform | Outperform | Maintain | Nov 2, 2018 |
| PiperJaffray | Overweight | Neutral | Upgrade | Jul 9, 2018 |
| Macquarie | Outperform | Outperform | Maintain | May 1, 2018 |
| Gabelli & Co. | Hold | Buy | Downgrade | Feb 16, 2018 |
| DA Davidson | Buy | Neutral | Upgrade | Nov 3, 2017 |
| Berenberg | Buy | Buy | Maintain | Sep 26, 2017 |
| William Blair | Outperform | Market Perform | Upgrade | Aug 4, 2017 |
| Pacific Crest | Overweight | Overweight | Maintain | Nov 22, 2016 |
| Argus | Buy | Buy | Maintain | Oct 25, 2016 |
| Buckingham Research | Neutral | Neutral | Maintain | Sep 16, 2015 |
| Sterne Agee CRT | Buy | Buy | Maintain | Jun 17, 2015 |
| Guggenheim | Buy | Neutral | Upgrade | Jun 8, 2015 |
| Wedbush | Neutral | Neutral | Maintain | Apr 9, 2015 |
| Imperial Capital | Outperform | Outperform | Maintain | Nov 5, 2014 |
| FBN Securities | Outperform | Outperform | Maintain | Sep 8, 2014 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Sep 2, 2014 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 1, 2014 |
| Raymond James | Perform | Market Perform | Maintain | Jul 1, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $199.59. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Deutsche Bank | Analyst unavailable | $220 | $195.69 | +10.2% | Aug 31, 2026 |
| Goldman Sachs | Michael Ng | $225 | $198.82 | +12.7% | Aug 5, 2026 |
| UBS | David Vogt | $259 | $200.22 | +29.8% | Aug 5, 2026 |
| Morgan Stanley | Analyst unavailable | $220 | $195.07 | +10.2% | Aug 5, 2026 |
| Wells Fargo | Analyst unavailable | $255 | $190.51 | +27.8% | Aug 5, 2026 |
| KeyBanc | Analyst unavailable | $250 | $190.51 | +25.3% | Aug 5, 2026 |
| Barclays | Tim Long | $289 | $190.51 | +44.8% | Aug 5, 2026 |
| Needham | Alex Henderson | $260 | $190.51 | +30.3% | Aug 5, 2026 |
| Jefferies | Analyst unavailable | $250 | $190.51 | +25.3% | Aug 5, 2026 |
| Wells Fargo | Analyst unavailable | $200 | $171.92 | +0.2% | Jul 16, 2026 |
| KeyBanc | Brandon Nispel | $200 | $164.93 | +0.2% | Jun 18, 2026 |
| Morgan Stanley | Analyst unavailable | $190 | $156.4 | -4.8% | Jun 12, 2026 |
| Wolfe Research | George Notter | $175 | $152.16 | -12.3% | Jun 10, 2026 |
| Raymond James | Simon Leopold | $164 | $147.81 | -17.8% | May 15, 2026 |
| Barclays | Analyst unavailable | $195 | $147.06 | -2.3% | May 7, 2026 |
| UBS | David Vogt | $187 | $145.58 | -6.3% | May 6, 2026 |
| Truist Financial | Matthew Niknam | $175 | $145.54 | -12.3% | May 6, 2026 |
| Piper Sandler | Analyst unavailable | $181 | $170.22 | -9.3% | May 6, 2026 |
| Morgan Stanley | Meta Marshall | $180 | $175.47 | -9.8% | May 1, 2026 |
| UBS | Analyst unavailable | $200 | $127.43 | +0.2% | Feb 24, 2026 |
| Morgan Stanley | Analyst unavailable | $165 | $147.43 | -17.3% | Feb 13, 2026 |
| Goldman Sachs | Analyst unavailable | $188 | $143.2 | -5.8% | Feb 13, 2026 |
| UBS | David Vogt | $177 | $146.95 | -11.3% | Feb 13, 2026 |
| Needham | Ryan Koontz | $185 | $143.86 | -7.3% | Feb 13, 2026 |
| Evercore ISI | Analyst unavailable | $200 | $141.92 | +0.2% | Feb 13, 2026 |
| Piper Sandler | Analyst unavailable | $175 | $135.12 | -12.3% | Feb 13, 2026 |
| KeyBanc | Analyst unavailable | $178 | $135.12 | -10.8% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $184 | $135.12 | -7.8% | Feb 13, 2026 |
| Piper Sandler | Analyst unavailable | $159 | $133.6 | -20.3% | Jan 5, 2026 |
| Morgan Stanley | Analyst unavailable | $159 | $126.13 | -20.3% | Dec 17, 2025 |
| UBS | David Vogt | $155 | $127.01 | -22.3% | Dec 3, 2025 |
| Piper Sandler | James Fish | $145 | $142.65 | -27.4% | Nov 5, 2025 |
| Barclays | Tim Long | $183 | $153.55 | -8.3% | Nov 5, 2025 |
| Morgan Stanley | Analyst unavailable | $171 | $158.23 | -14.3% | Oct 10, 2025 |
| BNP Paribas | Analyst unavailable | $172 | $143.06 | -13.8% | Sep 25, 2025 |
| Evercore ISI | Analyst unavailable | $150 | $118.12 | -24.8% | Aug 6, 2025 |
| KeyBanc | Analyst unavailable | $115 | $96.31 | -42.4% | Jun 25, 2025 |
| UBS | Analyst unavailable | $115 | $87.82 | -42.4% | Mar 5, 2025 |
| Goldman Sachs | Hendi Susanto | $430 | $385.57 | +115.4% | Sep 23, 2024 |
| Evercore ISI | Amit Daryanani | $400 | $355.36 | +100.4% | Sep 12, 2024 |
| Jefferies | George Notter | $380 | $311.42 | +90.4% | Jul 31, 2024 |
| Wells Fargo | Aaron Rakers | $390 | $346.65 | +95.4% | Jul 24, 2024 |
| New Street | Michael Ng | $389 | $295.5 | +94.9% | Jun 6, 2024 |
| Morgan Stanley | Meta Marshall | $300 | $297.56 | +50.3% | Jun 5, 2024 |
| Rosenblatt Securities | Mike Genovese | $220 | $301.42 | +10.2% | May 23, 2024 |
| Evercore ISI | Amit Daryanani | $340 | $319.89 | +70.3% | May 20, 2024 |
| KeyBanc | Steve Enders | $349 | $291.67 | +74.9% | May 8, 2024 |
| Evercore ISI | Amit Daryanani | $300 | $271.22 | +50.3% | Apr 12, 2024 |
| Rosenblatt Securities | Mike Genovese | $210 | $296.58 | +5.2% | Apr 12, 2024 |
| Goldman Sachs | Michael Ng | $356 | $304.6 | +78.4% | Mar 21, 2024 |
| JMP Securities | Erik Suppiger | $325 | $282.45 | +62.8% | Feb 12, 2024 |
| JMP Securities | Erik Suppiger | $200 | $185.61 | +0.2% | Aug 1, 2023 |
| Cowen & Co. | Analyst unavailable | $212 | $136.16 | +6.2% | Dec 13, 2022 |
| Credit Suisse | Sami Badri | $110 | $110.74 | -44.9% | Oct 25, 2022 |
| Cowen & Co. | Analyst unavailable | $163 | $118.45 | -18.3% | Aug 2, 2022 |
| UBS | Analyst unavailable | $134 | $117.01 | -32.9% | Aug 2, 2022 |
| Rosenblatt Securities | Analyst unavailable | $155 | $117.61 | -22.3% | Aug 2, 2022 |
| J.P. Morgan | Analyst unavailable | $160 | $117.61 | -19.8% | Aug 2, 2022 |
| Citigroup | Analyst unavailable | $170 | $117.61 | -14.8% | Aug 2, 2022 |
| Needham | Analyst unavailable | $140 | $117.61 | -29.9% | Aug 2, 2022 |
| Morgan Stanley | Analyst unavailable | $125 | $117.61 | -37.4% | Aug 2, 2022 |
| Barclays | Analyst unavailable | $131 | $117.61 | -34.4% | Aug 2, 2022 |
| Piper Sandler | Analyst unavailable | $125 | $117.61 | -37.4% | Aug 2, 2022 |
| Credit Suisse | Analyst unavailable | $185 | $117.61 | -7.3% | Aug 2, 2022 |
| Evercore ISI | Amit Daryanani | $145 | $117.61 | -27.4% | Aug 2, 2022 |
| Rosenblatt Securities | Mike Genovese | $140 | $104.89 | -29.9% | Jul 20, 2022 |
| Needham | Alex Henderson | $128 | $103.6 | -35.9% | Jul 19, 2022 |
| J.P. Morgan | Analyst unavailable | $150 | $98.3 | -24.8% | Jul 14, 2022 |
| Piper Sandler | Analyst unavailable | $108 | $98.56 | -45.9% | Jul 13, 2022 |
| Morgan Stanley | Meta Marshall | $114 | $94.07 | -42.9% | Jun 30, 2022 |
| Evercore ISI | Analyst unavailable | $120 | $95.98 | -39.9% | Jun 28, 2022 |
| Barclays | Analyst unavailable | $138 | $118.26 | -30.9% | May 3, 2022 |
| Credit Suisse | Analyst unavailable | $178 | $118.26 | -10.8% | May 3, 2022 |
| Piper Sandler | Analyst unavailable | $133 | $118.26 | -33.4% | May 3, 2022 |
| Wells Fargo | Aaron Rakers | $160 | $120.91 | -19.8% | Mar 10, 2022 |
| Loop Capital Markets | Fahad Najam | $170 | $125.92 | -14.8% | Feb 20, 2022 |
| Morgan Stanley | Meta Marshall | $144 | $129.94 | -27.9% | Feb 15, 2022 |
| Credit Suisse | Sami Badri | $175 | $129.94 | -12.3% | Feb 15, 2022 |
| KeyBanc | Thomas Blakey | $172 | $129.94 | -13.8% | Feb 15, 2022 |
| UBS | David Vogt | $140 | $129.94 | -29.9% | Feb 15, 2022 |
| Evercore ISI | Amit Daryanani | $160 | $129.94 | -19.8% | Feb 15, 2022 |
| Loop Capital Markets | Fahad Najam | $157 | $122.82 | -21.3% | Feb 14, 2022 |
| Citigroup | Jim Suva | $150 | $120.19 | -24.8% | Jan 29, 2022 |
| Vertical Group | Jon Lopez | $143.5 | $117.92 | -28.1% | Jan 27, 2022 |
| Bank of America Securities | Tal Liani | $153 | $133.18 | -23.3% | Jan 11, 2022 |
| Goldman Sachs | Rod Hall | $135.5 | $122.97 | -32.1% | Nov 2, 2021 |
| Argus Research | Jim Kelleher | $110 | $95.53 | -44.9% | Aug 4, 2021 |
| Stifel Nicolaus | John Marchetti | $87.5 | $94.79 | -56.2% | Aug 3, 2021 |
Track every rating change on ANET the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-13.6%
Event window
SPY move
+1.4%
Same window
Abnormal move
-15.0%
Stock minus SPY
Volume
4.5×
Versus trailing sessions
Subsequent drift
+12.9%
Up to 20 sessions
ANETSPY benchmark
Follow ANET with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeTranscript intelligence
What changed
Revenue grew 35% YoY to $2.71B, above the $2.62B consensus estimate. EPS of $0.87 beat the $0.81 estimate by 7.7%. FY2026 guidance raised to $11.5B, representing 27.7% revenue growth. AI revenue target set at $3.5B for FY2026, more than double the prior year. Campus revenue goal established at $1.25B for FY2026. XPO pluggable optics launched: 12.8 Tbps per module, 204.8 Tbps per rack unit. Purchase commitments rose to $8.9B; inventory turns improved to 1.7. Net Promoter Score reached 89 (94% customer approval). $180M capital investment committed to Santa Clara facilities for FY2026.
Guidance delta
Raised. FY2026 revenue outlook increased to $11.5B, representing 27.7% growth. AI segment target set at $3.5B, more than double the prior year. Campus revenue goal set at $1.25B. Capex outlook is increasing, with $180M committed to Santa Clara facilities. Guidance sentiment was raised and management tone was confident.
Key takeaways
- Revenue grew 35% YoY to $2.71B, beating guidance and consensus estimates.
- AI segment targeted at $3.5B for FY2026, more than double the prior year.
- Supply-chain shortages remain persistent; multiyear commitments and price discipline are used to protect margins.
- XPO optics and AI fabric products position Arista for next-generation high-speed AI racks starting 2027.
- Guidance raised to 27.7% revenue growth with FY2026 campus revenue goal of $1.25B.
Management priorities
- Begin production of AI scale-up racks (1.6 Tbps and beyond) in 2027-2028
- Ramp XPO optics adoption across scale-out and scale-across deployments
- Continue expanding AI fabric portfolio and EOS-based automation tools (AVD)
- Invest $180M in Santa Clara facilities during FY2026
- Target $1.25B campus revenue and $3.5B AI revenue for FY2026
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-28T12:43:36.543801+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T12:43:36.540775+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.