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Following a less-than-ideal February, stocks have started March off on a solid note. Momentum investors are undoubtedly thrilled to witness the positive price action, with some stocks now inching toward 52-week highs.
Three companies – Arista Networks (ANET - Free Report) , StoneX Group (SNEX - Free Report) , and Interactive Brokers (IBKR - Free Report) – are all seeing their shares march near their 52-week highs.
Below is a chart illustrating the year-to-date performance of all three stocks, with the S&P 500 blended in as a benchmark.
Image Source: Zacks Investment Research
In addition, all three have witnessed positive earnings estimate revisions as of late, providing the cherry on top. Let’s take a closer look at each one.
Arista Networks
Arista Networks provides cloud networking solutions for data centers and cloud computing environments. The company’s earnings outlook has improved across all timeframes, landing ANET into a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
The company has consistently delivered strong quarterly results, exceeding the Zacks Consensus EPS Estimate by double-digit percentages in three consecutive quarters.
Just in its latest release, ANET reported bottom line results 16.5% above expectations and delivered a 6.6% revenue surprise.
Image Source: Zacks Investment Research
The market has been impressed with each of the company’s last three prints, as illustrated by the green arrows circled in the chart below.
Image Source: Zacks Investment Research
And to top it off, the company sports a strong growth profile, with the Zacks Consensus EPS Estimate of $5.79 for its current fiscal year (FY23) indicating an improvement of 26% year-over-year.
And in FY24, the company’s earnings are forecasted to grow a further 11%.
StoneX Group
StoneX provides an institutional-grade financial services network that connects companies, organizations, traders, and others. StoneX sports the highly-coveted Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
Like ANET, the market has been impressed with StoneX’s quarterly results, with shares getting a boost following each of the last four releases.
Image Source: Zacks Investment Research
And it’s easy to understand why the market has been impressed, with the company exceeding bottom line expectations by at least 20% across its last four quarters.
Interactive Brokers
Interactive Brokers Group operates as an automated global electronic market maker and broker. Like the stocks above, IBKR carries a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
For those seeking an income stream, IBKR has that covered with its annual dividend, currently yielding a modest 0.5% paired with a sustainable payout ratio of 10% of its earnings.
Image Source: Zacks Investment Research
In addition, IBKR shares don’t appear stretched in terms of valuation, with the current 16.3X forward earnings multiple well below the 21.9X five-year median and highs of 23.4X in 2022.
Image Source: Zacks Investment Research
Bottom Line
Stocks pushing new highs commonly make even higher highs.
And when you add in positive earnings estimate revisions, these stocks have the fuel they need to continue their stellar runs.
All three stocks above – Arista Networks (ANET - Free Report) , StoneX Group (SNEX - Free Report) , and Interactive Brokers (IBKR - Free Report) – could be considerations of investors looking to tap into relative strength.
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3 Top-Ranked Stocks Pushing 52-Week Highs
Following a less-than-ideal February, stocks have started March off on a solid note. Momentum investors are undoubtedly thrilled to witness the positive price action, with some stocks now inching toward 52-week highs.
Three companies – Arista Networks (ANET - Free Report) , StoneX Group (SNEX - Free Report) , and Interactive Brokers (IBKR - Free Report) – are all seeing their shares march near their 52-week highs.
Below is a chart illustrating the year-to-date performance of all three stocks, with the S&P 500 blended in as a benchmark.
Image Source: Zacks Investment Research
In addition, all three have witnessed positive earnings estimate revisions as of late, providing the cherry on top. Let’s take a closer look at each one.
Arista Networks
Arista Networks provides cloud networking solutions for data centers and cloud computing environments. The company’s earnings outlook has improved across all timeframes, landing ANET into a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
The company has consistently delivered strong quarterly results, exceeding the Zacks Consensus EPS Estimate by double-digit percentages in three consecutive quarters.
Just in its latest release, ANET reported bottom line results 16.5% above expectations and delivered a 6.6% revenue surprise.
Image Source: Zacks Investment Research
The market has been impressed with each of the company’s last three prints, as illustrated by the green arrows circled in the chart below.
Image Source: Zacks Investment Research
And to top it off, the company sports a strong growth profile, with the Zacks Consensus EPS Estimate of $5.79 for its current fiscal year (FY23) indicating an improvement of 26% year-over-year.
And in FY24, the company’s earnings are forecasted to grow a further 11%.
StoneX Group
StoneX provides an institutional-grade financial services network that connects companies, organizations, traders, and others. StoneX sports the highly-coveted Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
Like ANET, the market has been impressed with StoneX’s quarterly results, with shares getting a boost following each of the last four releases.
Image Source: Zacks Investment Research
And it’s easy to understand why the market has been impressed, with the company exceeding bottom line expectations by at least 20% across its last four quarters.
Interactive Brokers
Interactive Brokers Group operates as an automated global electronic market maker and broker. Like the stocks above, IBKR carries a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
For those seeking an income stream, IBKR has that covered with its annual dividend, currently yielding a modest 0.5% paired with a sustainable payout ratio of 10% of its earnings.
Image Source: Zacks Investment Research
In addition, IBKR shares don’t appear stretched in terms of valuation, with the current 16.3X forward earnings multiple well below the 21.9X five-year median and highs of 23.4X in 2022.
Image Source: Zacks Investment Research
Bottom Line
Stocks pushing new highs commonly make even higher highs.
And when you add in positive earnings estimate revisions, these stocks have the fuel they need to continue their stellar runs.
All three stocks above – Arista Networks (ANET - Free Report) , StoneX Group (SNEX - Free Report) , and Interactive Brokers (IBKR - Free Report) – could be considerations of investors looking to tap into relative strength.