Yahoo Finance Is Arista Networks (ANET) Stock Outpacing Its Computer and Technology Peers 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) one of those stocks right now? 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 618 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Arista Networks is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ANET's full-year earnings has moved 4.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ANET has returned about 12.4% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 10.7%. This means that Arista Networks is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is AppFolio (APPF). The stock has returned 40.1% year-to-date.
Over the past three months, AppFolio's consensus EPS estimate for the current year has increased 3.7%. 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 #27 in the Zacks Industry Rank. On average, stocks in this group have gained 7.9% this year, meaning that ANET is performing better in terms of year-to-date returns.
In contrast, AppFolio falls under the Internet - Software industry. Currently, this industry has 139 stocks and is ranked #65. Since the beginning of the year, the industry has moved +9.5%.
Arista Networks and AppFolio could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Arista Networks, Inc. (ANET) : Free Stock Analysis Report
AppFolio, Inc. (APPF) : Free Stock Analysis Report
