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Arista Networks (ANET) Gains As Market Dips: What You Should Know
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In the latest trading session, Arista Networks (ANET - Free Report) closed at $311.21, marking a +0.46% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.46%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, lost 0.63%.
Prior to today's trading, shares of the cloud networking company had gained 10.43% over the past month. This has outpaced the Computer and Technology sector's gain of 2.74% and the S&P 500's gain of 1.08% in that time.
ANET will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.07, up 24.7% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $593.57 million, up 25.63% from the prior-year quarter.
ANET's full-year Zacks Consensus Estimates are calling for earnings of $9.26 per share and revenue of $2.64 billion. These results would represent year-over-year changes of +16.33% and +22.76%, respectively.
Any recent changes to analyst estimates for ANET should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ANET is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, ANET is holding a Forward P/E ratio of 33.45. This valuation marks a premium compared to its industry's average Forward P/E of 19.78.
Also, we should mention that ANET has a PEG ratio of 1.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Communication - Components industry currently had an average PEG ratio of 2.01 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Arista Networks (ANET) Gains As Market Dips: What You Should Know
In the latest trading session, Arista Networks (ANET - Free Report) closed at $311.21, marking a +0.46% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.46%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, lost 0.63%.
Prior to today's trading, shares of the cloud networking company had gained 10.43% over the past month. This has outpaced the Computer and Technology sector's gain of 2.74% and the S&P 500's gain of 1.08% in that time.
ANET will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.07, up 24.7% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $593.57 million, up 25.63% from the prior-year quarter.
ANET's full-year Zacks Consensus Estimates are calling for earnings of $9.26 per share and revenue of $2.64 billion. These results would represent year-over-year changes of +16.33% and +22.76%, respectively.
Any recent changes to analyst estimates for ANET should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ANET is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, ANET is holding a Forward P/E ratio of 33.45. This valuation marks a premium compared to its industry's average Forward P/E of 19.78.
Also, we should mention that ANET has a PEG ratio of 1.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Communication - Components industry currently had an average PEG ratio of 2.01 as of yesterday's close.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.