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Arista Networks (ANET) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Arista Networks (ANET - Free Report) closed at $210.24, marking a +1.85% move from the previous day. This change outpaced the S&P 500's 1.56% gain on the day. At the same time, the Dow added 1.77%, and the tech-heavy Nasdaq gained 2.2%.
Prior to today's trading, shares of the cloud networking company had lost 2.03% over the past month. This has lagged the Computer and Technology sector's gain of 4.45% and the S&P 500's gain of 6.41% in that time.
Wall Street will be looking for positivity from ANET as it approaches its next earnings report date. This is expected to be February 14, 2019. On that day, ANET is projected to report earnings of $2.04 per share, which would represent year-over-year growth of 19.3%. Our most recent consensus estimate is calling for quarterly revenue of $589.12 million, up 25.92% from the year-ago period.
It is also important to note the recent changes to analyst estimates for ANET. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ANET currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ANET is currently trading at a Forward P/E ratio of 23.71. For comparison, its industry has an average Forward P/E of 20.56, which means ANET is trading at a premium to the group.
It is also worth noting that ANET currently has a PEG ratio of 1.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Communication - Components stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 53, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Arista Networks (ANET) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Arista Networks (ANET - Free Report) closed at $210.24, marking a +1.85% move from the previous day. This change outpaced the S&P 500's 1.56% gain on the day. At the same time, the Dow added 1.77%, and the tech-heavy Nasdaq gained 2.2%.
Prior to today's trading, shares of the cloud networking company had lost 2.03% over the past month. This has lagged the Computer and Technology sector's gain of 4.45% and the S&P 500's gain of 6.41% in that time.
Wall Street will be looking for positivity from ANET as it approaches its next earnings report date. This is expected to be February 14, 2019. On that day, ANET is projected to report earnings of $2.04 per share, which would represent year-over-year growth of 19.3%. Our most recent consensus estimate is calling for quarterly revenue of $589.12 million, up 25.92% from the year-ago period.
It is also important to note the recent changes to analyst estimates for ANET. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ANET currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ANET is currently trading at a Forward P/E ratio of 23.71. For comparison, its industry has an average Forward P/E of 20.56, which means ANET is trading at a premium to the group.
It is also worth noting that ANET currently has a PEG ratio of 1.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Communication - Components stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 53, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.