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Why Arista Networks (ANET) is a Top Momentum Stock for the Long-Term

Zacks Equity Research
·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Arista Networks (ANET)

Santa Clara, CA-based Arista Networks, Inc. is engaged in providing cloud networking solutions for data centers and cloud computing environments. The company offers 10/25/40/50/100 Gigabit Ethernet switches and routers optimized for next generation data center networks.

ANET boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Arista Networks has seen some interesting price action recently; the stock is up 17.2% over the past one week and up 6.4% over the past four weeks. And in the last one-year period, ANET has gained 60.9%. As for the stock's trading volume, 3,850,802 shares on average were traded over the last 20 days.

A company's earnings performance is important for momentum investors as well. For fiscal 2023, nine analysts revised their earnings estimate higher in the last 60 days for ANET, while the Zacks Consensus Estimate has increased $0.07 to $5.86 per share. ANET also boasts an average earnings surprise of 14.7%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding ANET to their portfolios.

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Arista Networks, Inc. (ANET) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research