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Has Arista Networks (ANET) Outpaced Other Computer and Technology Stocks This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Arista Networks is one of 636 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Arista Networks is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ANET's full-year earnings has moved 0.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ANET has gained about 45.3% so far this year. In comparison, Computer and Technology companies have returned an average of 42.6%. This shows that Arista Networks is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Meta Platforms (META - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 162.6%.
Over the past three months, Meta Platforms' consensus EPS estimate for the current year has increased 17.3%. 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 #88 in the Zacks Industry Rank. This group has gained an average of 27.2% so far this year, so ANET is performing better in this area.
Meta Platforms, however, belongs to the Internet - Software industry. Currently, this 147-stock industry is ranked #77. The industry has moved +60.9% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Arista Networks and Meta Platforms as they could maintain their solid performance.
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Has Arista Networks (ANET) Outpaced Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Arista Networks is one of 636 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Arista Networks is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ANET's full-year earnings has moved 0.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ANET has gained about 45.3% so far this year. In comparison, Computer and Technology companies have returned an average of 42.6%. This shows that Arista Networks is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Meta Platforms (META - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 162.6%.
Over the past three months, Meta Platforms' consensus EPS estimate for the current year has increased 17.3%. 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 #88 in the Zacks Industry Rank. This group has gained an average of 27.2% so far this year, so ANET is performing better in this area.
Meta Platforms, however, belongs to the Internet - Software industry. Currently, this 147-stock industry is ranked #77. The industry has moved +60.9% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Arista Networks and Meta Platforms as they could maintain their solid performance.