Reasons Why You Should Keep This on Your Watchlist

Building a successful investment portfolio requires skill, research, and a bit of luck, whether you’re a growth, value, income, or momentum-focused investor. When considering adding stocks to your portfolio, it’s essential to do your due diligence and assess various factors to make informed decisions.

Recently, Arista Networks (ANET) was upgraded to a #1 (Strong Buy) rank on May 14, 2024, according to the Zacks Rank. This unique stock-rating model helps investors take advantage of earnings estimate revision trends and identifies stocks highly sought after by institutional investors.

Arista Networks, based in Santa Clara, CA, 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, nine analysts 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 7 Best Stocks for the Next 30 Days.