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Arista Networks (ANET) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Arista Networks (ANET - Free Report) closed at $166.62, marking a -1.92% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 0.66%.
Shares of the cloud networking company witnessed a loss of 3.11% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 2.58%, and the S&P 500's loss of 1.21%.
The upcoming earnings release of Arista Networks will be of great interest to investors. The company is predicted to post an EPS of $0.89, indicating a 21.92% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.82 billion, indicating a 27.95% upward movement from the same quarter last year.
ANET's full-year Zacks Consensus Estimates are calling for earnings of $3.63 per share and revenue of $11.57 billion. These results would represent year-over-year changes of +21.81% and +28.46%, respectively.
It is also important to note the recent changes to analyst estimates for Arista Networks. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Arista Networks is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Arista Networks is currently being traded at a Forward P/E ratio of 46.75. This indicates a premium in contrast to its industry's Forward P/E of 19.05.
We can additionally observe that ANET currently boasts a PEG ratio of 2.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.06 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Arista Networks (ANET) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Arista Networks (ANET - Free Report) closed at $166.62, marking a -1.92% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 0.66%.
Shares of the cloud networking company witnessed a loss of 3.11% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 2.58%, and the S&P 500's loss of 1.21%.
The upcoming earnings release of Arista Networks will be of great interest to investors. The company is predicted to post an EPS of $0.89, indicating a 21.92% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.82 billion, indicating a 27.95% upward movement from the same quarter last year.
ANET's full-year Zacks Consensus Estimates are calling for earnings of $3.63 per share and revenue of $11.57 billion. These results would represent year-over-year changes of +21.81% and +28.46%, respectively.
It is also important to note the recent changes to analyst estimates for Arista Networks. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Arista Networks is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Arista Networks is currently being traded at a Forward P/E ratio of 46.75. This indicates a premium in contrast to its industry's Forward P/E of 19.05.
We can additionally observe that ANET currently boasts a PEG ratio of 2.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.06 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.