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Arista Networks (ANET) Rises Higher Than Market: Key Facts
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Arista Networks (ANET - Free Report) closed the latest trading day at $121.43, indicating a +1.23% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.88%. At the same time, the Dow added 1.24%, and the tech-heavy Nasdaq gained 0.65%.
Shares of the cloud networking company witnessed a gain of 6.07% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.37% and the S&P 500's gain of 1.17%.
Investors will be eagerly watching for the performance of Arista Networks in its upcoming earnings disclosure. The company is expected to report EPS of $0.57, up 9.62% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.89 billion, showing a 22.42% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Arista Networks should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.53% higher. As of now, Arista Networks holds a Zacks Rank of #2 (Buy).
In terms of valuation, Arista Networks is currently trading at a Forward P/E ratio of 49.51. This signifies a premium in comparison to the average Forward P/E of 23.28 for its industry.
It's also important to note that ANET currently trades at a PEG ratio of 2.9. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Communication - Components industry stood at 1.35 at the close of the market yesterday.
The Communication - Components industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Arista Networks (ANET) Rises Higher Than Market: Key Facts
Arista Networks (ANET - Free Report) closed the latest trading day at $121.43, indicating a +1.23% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.88%. At the same time, the Dow added 1.24%, and the tech-heavy Nasdaq gained 0.65%.
Shares of the cloud networking company witnessed a gain of 6.07% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.37% and the S&P 500's gain of 1.17%.
Investors will be eagerly watching for the performance of Arista Networks in its upcoming earnings disclosure. The company is expected to report EPS of $0.57, up 9.62% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.89 billion, showing a 22.42% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Arista Networks should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.53% higher. As of now, Arista Networks holds a Zacks Rank of #2 (Buy).
In terms of valuation, Arista Networks is currently trading at a Forward P/E ratio of 49.51. This signifies a premium in comparison to the average Forward P/E of 23.28 for its industry.
It's also important to note that ANET currently trades at a PEG ratio of 2.9. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Communication - Components industry stood at 1.35 at the close of the market yesterday.
The Communication - Components industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.