Arista Networks (ANET) demonstrates strong technical momentum, recently setting an all-time high.
Shares are up more than 70% over the past year.
ANET maintains a 100% “Buy” technical opinion from Barchart.
Wall Street analysts overwhelmingly rate ANET a “Strong Buy,” although some note its high valuation is a drawback.
Today’s Featured Stock
Valued at $235 billion, Arista Networks (ANET) is engaged in providing cloud networking solutions for data centers and cloud computing environments.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction, Weighted Alpha above 50+ and a 60-Month Beta over 1.5. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. ANET checks those boxes. The Trend Seeker issued a new “Buy” signal on June 1. Since then, the stock has gained 10.38%.
More News from Barchart
Barchart’s Technical Indicators for Arista Networks
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Arista Networks scored an all-time high of $189.82 on July 9.
Arista has a Weighted Alpha of +70.30.
ANET has a 100% “Buy” opinion from Barchart.
The stock has gained 73.26% over the past 52 weeks.
Arista has its Trend Seeker “Buy” signal intact.
The stock recently traded at $187.59 with a 50-day moving average of $160.71.
ANET has made 8 new highs and gained 15.23% over the past month.
60-month beta of 1.60.
Relative Strength Index (RSI) is at 62.91.
There’s a technical support level around $183.77.
Don’t Forget the Fundamentals
$235 billion market capitalization.
64.13X trailing price-earnings ratio
Revenue is projected to grow 28.74% this year and another 23.67% next year.
Earnings are estimated to increase 21.72% this year and an additional 22.80% next year.
