Arista Networks (ANET) Stock Moves 1.41%: What You Should Know

In the latest trading session, Arista Networks (ANET) closed at $96.31, marking a +1.41% move from the previous day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw an increase of 0.31%. Shares of the cloud networking company witnessed a gain of 2.68% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 7.62%, and the S&P 500's gain of 5.05%.The investment community will be closely monitoring the performance of Arista Networks in its forthcoming earnings report. On that day, Arista Networks is projected to report earnings of $0.65 per share, which would represent year-over-year growth of 25%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.11 billion, indicating a 24.67% increase compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates are projecting earnings of $2.56 per share and revenue of $8.31 billion, which would represent changes of +12.78% and +18.72%, respectively, from the prior year. Investors might also notice recent changes to analyst estimates for Arista Networks. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Arista Networks currently has a Zacks Rank of #2 (Buy). Looking at its valuation, Arista Networks is holding a Forward P/E ratio of 37.12. This represents a premium compared to its industry average Forward P/E of 28.31. One should further note that ANET currently holds a PEG ratio of 2.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ANET's industry had an average PEG ratio of 2.25 as of yesterday's close. The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 52, positioning it in the top 22% of all 250+ industries. 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. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Arista Networks, Inc. (ANET): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks