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Is Arista Networks (ANET) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Arista Networks (ANET - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Arista Networks is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Arista Networks is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ANET's full-year earnings has moved 5.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ANET has gained about 74.4% so far this year. In comparison, Computer and Technology companies have returned an average of 35.5%. This means that Arista Networks is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is ServiceNow (NOW - Free Report) . The stock has returned 54.4% year-to-date.
For ServiceNow, the consensus EPS estimate for the current year has increased 13.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arista Networks belongs to the Communication - Components industry, a group that includes 12 individual stocks and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have gained 32.2% this year, meaning that ANET is performing better in terms of year-to-date returns.
In contrast, ServiceNow falls under the Computers - IT Services industry. Currently, this industry has 39 stocks and is ranked #55. Since the beginning of the year, the industry has moved +18.4%.
Arista Networks and ServiceNow could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Is Arista Networks (ANET) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Arista Networks (ANET - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Arista Networks is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Arista Networks is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ANET's full-year earnings has moved 5.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ANET has gained about 74.4% so far this year. In comparison, Computer and Technology companies have returned an average of 35.5%. This means that Arista Networks is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is ServiceNow (NOW - Free Report) . The stock has returned 54.4% year-to-date.
For ServiceNow, the consensus EPS estimate for the current year has increased 13.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arista Networks belongs to the Communication - Components industry, a group that includes 12 individual stocks and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have gained 32.2% this year, meaning that ANET is performing better in terms of year-to-date returns.
In contrast, ServiceNow falls under the Computers - IT Services industry. Currently, this industry has 39 stocks and is ranked #55. Since the beginning of the year, the industry has moved +18.4%.
Arista Networks and ServiceNow could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.