With its next earnings report set for May 2, cloud networking leader Arista Networks is about 18% shy of a 143.67 entry. The current formation is a first-stage cup with handle.
Arista Networks Keeps Posting Double-Digit Profit, Sales Growth
Earnings for the Santa Clara, Calif.-based cloud computing software and hardware maker grew 32% last quarter, to 82 cents per share. The prior three stanzas Arista Networks' EPS rose 24%, 28% and 21%. Revenue growth also increased in its most recent quarter, from 24% to 27%, or $824.5 million.
Consensus analyst estimates call for earnings-per-share growth of 28% for the quarter, and 27% growth for the full year. Annual growth estimates for Arista Networks were recently revised higher.
Arista's stock has slumped in sync with the market's recent downturn. On Monday afternoon it was down 1.9% for the day, at 115.
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Arista Networks stock has a 94 Composite Rating and earns the No. 1 rank among its peers in the Computer-Networking industry group. Extreme Networks and Juniper Networks are also among the group's highest-rated stocks.
Other Key Ratings Stand Out
Among its other ratings, Arista Networks boasts a 93 EPS Rating, putting it in the top 7% of all companies for recent and long-term profit growth. It has a 92 Relative Strength Rating. However, institutional investors like mutual funds and ETFs are cautious and it has a C- Accumulation/Distribution Rating, on an A+ to E scale. That indicates slightly more selling than buying of its shares by funds.
Be aware that it's risky to buy any stock just before it reports. You can reduce your exposure by waiting to see how the company reports and how the market reacts.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
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