Goldman Sachs analyst Rod Hall added Arista Networks to his firm's Americas Conviction List and reiterates a Buy rating on the shares. He also upped his 12-month price target for the stock to $360 from $300. Hall sees "significant upside potential" to consensus expectations driven by Arista's expansion into campus switching. The company can deliver 23% or better revenue growth in 2020 and 2021 driven by its campus expansion amid "relatively conservative assumptions," Hall tells investors in a research note. The analyst continues to expect Arista to maintain its leading position in the data center switching market and he views the stock's valuation as being at a discount to peers.

Bullish option flow detected in Arista Networks with 2,900 calls trading, 1.7x expected, and implied vol increasing almost 2 points to 56.57%. Nov-24 270 calls and 4/26 weekly 275 calls are the most active options, with total volume in those strikes near 770 contracts. The Put/Call Ratio is 0.64. Earnings are expected on May 7th.