Why Arista Networks Plunged Today
Shares of data center switch juggernaut Arista Networks (NYSE: ANET) plunged on Friday, down about 8.6% as of 2:20 p.m. ET.
While the entire tech sector and frankly the entire market was down today, Arista was doubly affected by an analyst downgrade. The content of the downgrade was especially worrying, given that Arista may find itself with a tough brand-new competitor: Nvidia.
Analyst Mike Genovese of Rosenblatt Securities made the big downgrade today, lowering his price target on Arista from $330 to just $210. That's a big move with the stock around $270 today, essentially flipping from a buy to a sell.
Source Fool.com
