Raymond James Highlights Strong Bookings and RPO for Arista Networks (ANET) After 10-Q Filing

Arista Networks, Inc. (NYSE:ANET) ranks among the best computer hardware stocks to invest in. Raymond James maintained its Market Perform rating on Arista Networks, Inc. (NYSE:ANET) following the company’s 10-Q filing on August 6. The firm highlighted that Arista’s remaining performance obligations (RPO) and bookings strength were equal to or greater than the revenue and billings indicated in the company’s last earnings statement.

According to Raymond James, Arista’s purchase orders are steady, demonstrating the networking company’s steady demand for its goods and services. Additionally, the firm noted that VeloCloud’s purchase price was less than what market speculation had previously indicated, which might have offered Arista Networks, Inc. (NYSE:ANET) a more advantageous acquisition cost.

Arista Networks, Inc. (NYSE:ANET) is an American computer networking company headquartered in Santa Clara, California. The company specializes in developing and providing multilayer network switches that enable software-defined networking in large-scale data centers, cloud computing, high-performance computing, and high-frequency trading environments.

While we acknowledge the potential of ANET as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.