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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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Arista Networks is a member of the Computer and Technology sector. This group includes 619 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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).
Within the past quarter, the Zacks Consensus Estimate for ANET's full-year earnings has moved 3.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ANET has moved about 26.5% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 12.8% on average. This means that Arista Networks is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Backblaze, Inc. (BLZE - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 30.4%.
Over the past three months, Backblaze, Inc.'s consensus EPS estimate for the current year has increased 12%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arista Networks belongs to the Communication - Components industry, which includes 12 individual stocks and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have gained about 19% so far this year, so ANET is performing better this group in terms of year-to-date returns.
Backblaze, Inc. however, belongs to the Internet - Software industry. Currently, this 142-stock industry is ranked #40. The industry has moved +18.8% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Arista Networks and Backblaze, Inc. These stocks will be looking to continue their solid performance.
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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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Arista Networks is a member of the Computer and Technology sector. This group includes 619 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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).
Within the past quarter, the Zacks Consensus Estimate for ANET's full-year earnings has moved 3.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ANET has moved about 26.5% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 12.8% on average. This means that Arista Networks is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Backblaze, Inc. (BLZE - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 30.4%.
Over the past three months, Backblaze, Inc.'s consensus EPS estimate for the current year has increased 12%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arista Networks belongs to the Communication - Components industry, which includes 12 individual stocks and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have gained about 19% so far this year, so ANET is performing better this group in terms of year-to-date returns.
Backblaze, Inc. however, belongs to the Internet - Software industry. Currently, this 142-stock industry is ranked #40. The industry has moved +18.8% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Arista Networks and Backblaze, Inc. These stocks will be looking to continue their solid performance.