This #1 (Strong Buy) Computer and Technology Stock is a Smart Buy Right Now

It doesn’t matter if you’re a growth, value, income, or momentum-focused investor — building a successful investment portfolio takes skill, research, and a little bit of luck.

Should You Buy #1 (Strong Buy)-Ranked Arista Networks (ANET) for Your Portfolio?

Arista Networks was upgraded to the Zacks Rank #1 list on March 19, 2022. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

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.

Nine analysts revised their earnings estimate higher in the last 60 days for fiscal 2022, while the Zacks Consensus Estimate has increased $0.15 to $3.68 per share. ANET also boasts an average earnings surprise of 7.7%.

Earnings are forecasted to see growth of 28.2% for the current fiscal year, and sales are expected to increase 30.4%.

ANET has been moving higher over the past four weeks as well, up 4.8% compared to the S&P 500’s gain of 2.7%.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Arista Networks could be just the stock to help your portfolio generate returns that could fund your retirement, your kids’ college tuition, or your short- and long-term savings goals.

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