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Is Arista Networks (ANET) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Arista Networks (ANET - Free Report) one of those stocks right now? 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 a member of the Computer and Technology sector. This group includes 633 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Arista Networks is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ANET's full-year earnings has moved 5.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ANET has returned 54.6% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 39.8% on average. As we can see, Arista Networks is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is ON Semiconductor Corp. (ON - Free Report) . The stock is up 54.7% year-to-date.
Over the past three months, ON Semiconductor Corp.'s consensus EPS estimate for the current year has increased 7.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Arista Networks belongs to the Communication - Components industry, a group that includes 12 individual companies and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 27.9% so far this year, meaning that ANET is performing better in terms of year-to-date returns.
ON Semiconductor Corp. however, belongs to the Semiconductor - Analog and Mixed industry. Currently, this 10-stock industry is ranked #188. The industry has moved +21.8% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Arista Networks and ON Semiconductor Corp. as they could maintain their solid performance.
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Is Arista Networks (ANET) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Arista Networks (ANET - Free Report) one of those stocks right now? 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 a member of the Computer and Technology sector. This group includes 633 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Arista Networks is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ANET's full-year earnings has moved 5.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ANET has returned 54.6% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 39.8% on average. As we can see, Arista Networks is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is ON Semiconductor Corp. (ON - Free Report) . The stock is up 54.7% year-to-date.
Over the past three months, ON Semiconductor Corp.'s consensus EPS estimate for the current year has increased 7.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Arista Networks belongs to the Communication - Components industry, a group that includes 12 individual companies and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 27.9% so far this year, meaning that ANET is performing better in terms of year-to-date returns.
ON Semiconductor Corp. however, belongs to the Semiconductor - Analog and Mixed industry. Currently, this 10-stock industry is ranked #188. The industry has moved +21.8% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Arista Networks and ON Semiconductor Corp. as they could maintain their solid performance.