Needham lifted its price target on Arista Networks (NYSE:ANET) to $160 from $155 while maintaining a Buy rating.

The firm said Arista's Analyst Day highlighted a compelling long-term vision, including new AI and cloud-focused initiatives targeting both white-box providers and Nvidia, as well as fresh investments in enterprise campus networking aimed directly at Cisco. Analysts also praised recent senior management hires, viewing them as capable of accelerating change and expansion.

Proprietary checks indicated Arista had become a major supplier to Anthropic in 2025, with revenue contributions expected in 2026. Needham said these developments reinforced confidence in Arista's ability to sustain growth and expand its market presence.