Arista Networks (ANET - Free Report) shares soared 4.2% in the last trading session to close at $131.25. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.5% loss over the past four weeks.
The rally was driven by increased investor optimism as the company benefits from strong momentum and diversification across its top verticals and product lines. Arista is witnessing solid demand for its client-to-cloud networking portfolio across all sectors.
This cloud networking company is expected to post quarterly earnings of $0.80 per share in its upcoming report, which represents a year-over-year change of +27%. Revenues are expected to be $854.05 million, up 27.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Arista Networks, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ANET going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Arista Networks is a member of the Zacks Communication - Components industry. One other stock in the same industry, Viav Solutions (VIAV - Free Report) , finished the last trading session 2% higher at $16.56. VIAV has returned -2.1% over the past month.
Viav Solutions' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. Compared to the company's year-ago EPS, this represents a change of +16.7%. Viav Solutions currently boasts a Zacks Rank of #2 (Buy).
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Arista Networks (ANET - Free Report) shares soared 4.2% in the last trading session to close at $131.25. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.5% loss over the past four weeks.
The rally was driven by increased investor optimism as the company benefits from strong momentum and diversification across its top verticals and product lines. Arista is witnessing solid demand for its client-to-cloud networking portfolio across all sectors.
This cloud networking company is expected to post quarterly earnings of $0.80 per share in its upcoming report, which represents a year-over-year change of +27%. Revenues are expected to be $854.05 million, up 27.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Arista Networks, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ANET going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Arista Networks is a member of the Zacks Communication - Components industry. One other stock in the same industry, Viav Solutions (VIAV - Free Report) , finished the last trading session 2% higher at $16.56. VIAV has returned -2.1% over the past month.
Viav Solutions' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. Compared to the company's year-ago EPS, this represents a change of +16.7%. Viav Solutions currently boasts a Zacks Rank of #2 (Buy).
Buy 5 Stocks BEFORE Election Day
Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).
Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.
They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S.
Don’t Wait. Download FREE >>
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