Anticipation Builds for Upcoming Quarterly Releases
The ongoing earnings season continues to deliver compelling insights into the financial standing of top market performers. This week, the limelight falls on mega-cap technology companies, who have, for the most part, been warmly received by investors post-earnings.
Looking forward, the upcoming week promises an engaging flurry of earnings reports, with several prominent companies scheduled to disclose their results. Among the anticipated names are Arista Networks (ANET), Shopify (SHOP), and Deere (DE).
Arista Networks
Arista Networks has witnessed a remarkable surge, benefitting greatly from the AI fervor, with its shares soaring by nearly 100% over the past year. The company stands as a leading force in data-driven networking, offering extensive solutions for large data centers, campus, and routing environments.
Projections indicate substantial growth, with the current Zacks Consensus EPS Estimate at $1.70 suggesting a robust 20% year-over-year improvement. Analysts have modestly uplifted their expectations, pushing the estimate 1.2% higher since November.
Forecasts for the top line paint a similar picture, with the $1.5 billion Zacks Consensus Estimate reflecting a 20% surge. Notably, Arista Networks has consistently outperformed consensus expectations, exceeding both top and bottom line estimates in each of its last ten releases.
Heading into the release, Arista Networks boasts a Zacks Rank #1 (Strong Buy).
Shopify
Shopify, a provider of a cloud-based, multi-channel e-commerce platform, has witnessed substantial growth, with its shares gaining over 50% in the past year. Expectations for the upcoming release have notably brightened, with the Zacks Consensus EPS estimate up nearly 30% since November, projecting a remarkable 340% year-over-year climb.
Meanwhile, revenue expectations remain strong, with an anticipated 20% climb for the upcoming release. Similar to Arista Networks, Shopify currently holds a Zacks Rank #1 (Strong Buy).
Deere
Deere, the world’s largest producer of agricultural equipment, has seen its shares grow by 8% over the past year. However, the company’s outlook has taken a hit in recent months, with the Zacks Consensus EPS Estimate down nearly 11% and the sales estimate reflecting a 14% year-over-year pullback.
Deere is currently listed as a Zacks Rank #3 (Hold).
Anticipating the Upcoming Earnings Releases
The earnings season always provides a thrilling spectacle for investors as companies unveil the hidden stories behind their financials. As we approach the upcoming week, investors will be keeping a close eye on the performance of Arista Networks, Deere, and Shopify.
