The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Arista Networks (ANET) been one of those stocks this year? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Arista Networks is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ANET’s full-year earnings has moved 4.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ANET has moved about 39.5% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 16.5%. This means that Arista Networks is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Bridgeline Digital, Inc. (BLIN), has outperformed the sector so far this year. The stock’s year-to-date return is 23%.
The consensus estimate for Bridgeline Digital, Inc.’s current year EPS has increased 9.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Arista Networks is a member of the Communication – Components industry, which includes 11 individual companies and currently sits at #21 in the Zacks Industry Rank. This group has gained an average of 35% so far this year, so ANET is performing better in this area.
In contrast, Bridgeline Digital, Inc. falls under the Internet – Services industry. Currently, this industry has 39 stocks and is ranked #95. Since the beginning of the year, the industry has moved +10.8%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Arista Networks and Bridgeline Digital, Inc. as they attempt to continue their solid performance.
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