Investing in the stock market requires skill, research, and a bit of luck, regardless of whether you are a growth, value, income, or momentum-focused investor. Building a successful investment portfolio is a goal for many, and it involves making sound decisions based on various factors.
One stock that investors may want to consider for their portfolios is Arista Networks (ANET), which was recently upgraded to a Zacks Rank #1 on May 14, 2024. The Zacks Rank is a stock-rating model that takes into account earnings estimate revision trends and helps investors identify stocks that are highly sought after by institutional investors.
Based in Santa Clara, CA, Arista Networks provides cloud networking solutions for data centers and cloud computing environments. The company offers a range of Ethernet switches and routers optimized for next-generation data center networks. In the last 60 days, nine analysts revised their earnings estimates upward for fiscal 2024, leading to an increase in the Zacks Consensus Estimate to $7.92 per share.
With an average earnings surprise of 15.4%, analysts are expecting earnings to grow by 14.1% for the current fiscal year, with revenue forecasted to rise by 14.2%. Additionally, ANET has shown a 10.1% gain in value over the past four weeks, outpacing the S&P 500’s gain of 2.7%.
Given its #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Arista Networks could be a stock worth considering to help grow your investment portfolio and achieve your financial goals. For more stock recommendations from Zacks Investment Research
