Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Rosenblatt double downgrades Arista Networks stock to ‘sell’ By: Invezz April 13, 2024 at 11:49 AM EDT Arista Networks Inc (NYSE: ANET) lost close to 10% on Friday after a Rosenblatt analyst double downgraded the computer networking company to “sell”.Arista Networks stock could tank another 20%Mike Genovese warned clients in a research note today that $ANET could tank to $210 – down another 20% from here because it “may not benefit as much” as many believe from the AI frenzy.The analyst agreed that “Ethernet is a long-term winning technology” but said Arista Networks may fail to maintain its margins at current levels “if EOS loses value in AI Data Centers”.Genovese turned bearish on Arista Networks stock even though it’s expected to earn $1.53 a share in its current quarter – up significantly from $1.26 per share a year ago.Despite the hit on Friday, $ANET is up 100% versus its 52-week low at writing.$ANET faces competition from NvidiaMike Genovese double downgraded Arista Networks on Friday because he expects “most of the spoils to go to Nvidia” as Ethernet gains momentum.He’s convinced that artificial intelligence will not deliver a meaningful boost to $ANET sales. The New York listed firm expects $750 million (at least) in “new AI-related sales in 2025”.The Rosenblatt analyst forecasts Arista Networks to grow its share in enterprise but said “this type of business typically does no support super-high [valuation]”.All in all, he expects the earnings multiple on Arista Networks shares to shrink moving forward.Watch here: https://www.youtube.com/embed/k1yt-LpJd-E?feature=oembedThe post Rosenblatt double downgrades Arista Networks stock to 'sell' appeared first on Invezz Related Stocks: Arista Networks Inc Bio-Techne Corp C3.ai, Inc. Liberty All Star Equity Fund Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Rosenblatt double downgrades Arista Networks stock to ‘sell’ By: Invezz April 13, 2024 at 11:49 AM EDT Arista Networks Inc (NYSE: ANET) lost close to 10% on Friday after a Rosenblatt analyst double downgraded the computer networking company to “sell”.Arista Networks stock could tank another 20%Mike Genovese warned clients in a research note today that $ANET could tank to $210 – down another 20% from here because it “may not benefit as much” as many believe from the AI frenzy.The analyst agreed that “Ethernet is a long-term winning technology” but said Arista Networks may fail to maintain its margins at current levels “if EOS loses value in AI Data Centers”.Genovese turned bearish on Arista Networks stock even though it’s expected to earn $1.53 a share in its current quarter – up significantly from $1.26 per share a year ago.Despite the hit on Friday, $ANET is up 100% versus its 52-week low at writing.$ANET faces competition from NvidiaMike Genovese double downgraded Arista Networks on Friday because he expects “most of the spoils to go to Nvidia” as Ethernet gains momentum.He’s convinced that artificial intelligence will not deliver a meaningful boost to $ANET sales. The New York listed firm expects $750 million (at least) in “new AI-related sales in 2025”.The Rosenblatt analyst forecasts Arista Networks to grow its share in enterprise but said “this type of business typically does no support super-high [valuation]”.All in all, he expects the earnings multiple on Arista Networks shares to shrink moving forward.Watch here: https://www.youtube.com/embed/k1yt-LpJd-E?feature=oembedThe post Rosenblatt double downgrades Arista Networks stock to 'sell' appeared first on Invezz Related Stocks: Arista Networks Inc Bio-Techne Corp C3.ai, Inc. Liberty All Star Equity Fund