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Are Computer and Technology Stocks Lagging Arista Networks (ANET) This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Arista Networks (ANET - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Arista Networks is one of 618 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 3.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ANET has returned about 25.9% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 13.5%. This shows that Arista Networks is outperforming its peers so far this year.
Itron (ITRI - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 22.1%.
In Itron's case, the consensus EPS estimate for the current year increased 14.8% 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, which includes 12 individual stocks and currently sits at #60 in the Zacks Industry Rank. On average, stocks in this group have gained 18.5% this year, meaning that ANET is performing better in terms of year-to-date returns.
On the other hand, Itron belongs to the Electronics - Testing Equipment industry. This 6-stock industry is currently ranked #63. The industry has moved +7.4% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Arista Networks and Itron as they attempt to continue their solid performance.
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Are Computer and Technology Stocks Lagging Arista Networks (ANET) This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Arista Networks (ANET - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Arista Networks is one of 618 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 3.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ANET has returned about 25.9% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 13.5%. This shows that Arista Networks is outperforming its peers so far this year.
Itron (ITRI - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 22.1%.
In Itron's case, the consensus EPS estimate for the current year increased 14.8% 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, which includes 12 individual stocks and currently sits at #60 in the Zacks Industry Rank. On average, stocks in this group have gained 18.5% this year, meaning that ANET is performing better in terms of year-to-date returns.
On the other hand, Itron belongs to the Electronics - Testing Equipment industry. This 6-stock industry is currently ranked #63. The industry has moved +7.4% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Arista Networks and Itron as they attempt to continue their solid performance.