FireEye (NSDQ: FEYE) dipped again on the news that Symantec (SYMC) is set to acquire Blue Coat Systems for $4.65 billion, effectively merging two of FireEye’s largest competitors. Despite the fact that Symantec has been lagging its younger rivals in developing technologies to detect more advanced threats, Blue Coat boasts an innovative suite of security tools that could help revitalize Symantec.

Symantec and FireEye were in talks to merge themselves earlier this year, but talks broke down when Symantec reportedly become concerned about FireEye’s growth potential. Apparently, Symantec was hedging its bets and running parallel discussions Blue Coat at the same time. If the deal closes in the third quarter as expected, Blue Coat CEO Greg Clark will take the helm of the combined operations.

So far though, I don’t see any reason to really worry. The Symantec/Blue Coat deal is expected to close rather quickly in the third quarter, but it will take some time for the two companies to work out the kinks of the merger. There’s also a David and Goliath analogy to be made here, with Symantec being much larger than Blue Coat, so it will take some time for the deal to move the needle on revenue and earnings.

At the same time, FireEye’s new CEO Kevin Mandia won’t be talking over until June 15^th, so he may yet prove to be better able to execute on “FireEye-as-a-Service” and grow the business to profitability.

FireEye remains a buy under $22.

Analysts at Merrill Lynch released a research note late last week in which they named Arista Networks (NYSE: ANET) a “Top Buy” and raised their price target from $75 to $85. They believe the company will get a boost from dual supplier requirements at a growing number of cloud data centers, which require that nearly identical products be purchased from two different vendors.

The idea behind dual-supplier is that if there is a supply disruption from one, there will always be another. Since Arista is a leading supplier of Eathernet switches, dual supplier rules ensure that even if a company doesn’t choose Arista as its main supplier, odds are they will still order at least some equipment from it. That can play an important role in earnings growth, particularly as data center construction is running at a rapid clip to deal with more and more companies transitioning to cloud-based data storage rather than relying on their own infrastructure.

Other investors seem to have similar views, with Arista’s per share earnings currently forecast to grow by nearly 60% to $2.67 this year. Interestingly though, while the company’s forward price-to-earnings ratio is a bit rich at 23 times, it’s price-to-earnings-growth ratio is just 0.8 times. That means the stock is actually undervalued relative to expected earnings growth, so you can actually make the case that the shares are still something of a bargain.

Buy Arista Networks on any dips below $62.