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Are Computer and Technology Stocks Lagging Arista Networks (ANET) 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. Arista Networks (ANET - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 one of 618 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Arista Networks is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for ANET's full-year earnings has moved 5.6% 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 33.2% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 14% on average. This means that Arista Networks is outperforming the sector as a whole this year.

One other Computer and Technology stock that has outperformed the sector so far this year is Phunware (PHUN - Free Report) . The stock is up 82.7% year-to-date.

The consensus estimate for Phunware's current year EPS has increased 72.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Arista Networks is a member of the Communication - Components industry, which includes 12 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, stocks in this group have gained 25% this year, meaning that ANET is performing better in terms of year-to-date returns.

Phunware, however, belongs to the Internet - Software industry. Currently, this 138-stock industry is ranked #60. The industry has moved +13% so far this year.

Investors with an interest in Computer and Technology stocks should continue to track Arista Networks and Phunware. These stocks will be looking to continue their solid performance.

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