Investing in the stock market can be challenging, but with the right approach and tools, it can also be highly rewarding. Building a successful investment portfolio requires skill, research, and a bit of luck. Whether you’re focused on growth, value, income or momentum, there are several factors to consider when adding stocks to your portfolio.
One tool that can help investors make informed decisions is the Zacks Rank. Recently, Arista Networks (ANET) was upgraded to a #1 (Strong Buy) rank on May 14th, 2024. This unique stock-rating model helps investors identify stocks that are highly sought after by institutional investors and take advantage of earnings estimate revision trends.
Arista Networks is based in Santa Clara, CA and provides cloud networking solutions for data centers and cloud computing environments. The company offers Ethernet switches and routers optimized for next-generation data center networks, ranging from 10 to 100 Gigabit speeds. In the last 60 days alone, nine analysts have revised their earnings estimate upwards for ANET leading to an increase in the Zacks Consensus Estimate to $7.92 per share for fiscal 2024. With an average earnings surprise of 15.4%, analysts expect earnings to grow by 14.1% and revenue to rise by 14.2% in the current fiscal year.
Over the past four weeks, ANET has seen a 10.1% increase in value outperforming the S&P 500’s gain of 2.7%. With its strong market momentum, positive trend in earnings estimate revisions and #1 (Strong Buy) ranking, Arista Networks could potentially be a lucrative addition to your investment portfolio, providing returns that may support your financial goals in the long run.
For more investment recommendations and insights you can download the latest recommendations from Zacks Investment Research including the top seven best stocks for
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