3 Standout Stocks of This Week's Busy Earnings Lineup

Core Insights - Several top-rated Zacks stocks have reported strong Q2 earnings, exceeding both top and bottom line expectations, highlighting their potential for further growth [1] Arista Networks (ANET) - Q2 EPS of $2.10 surpassed estimates by 8% and increased 33% from $1.58 in the same quarter last year [2] - Sales reached $1.69 billion, exceeding estimates by 3% and growing 16% year over year from $1.45 billion [2] - ANET has consistently beaten EPS estimates since its IPO in 2014 and is up 47% year to date, outperforming broader indexes and most tech stocks [2] PayPal (PYPL) - Q2 EPS of $1.19 exceeded estimates by 24% and rose 2% from the previous year [3] - Q2 sales totaled $7.85 billion, 1% above expectations and an 8% increase from $7.28 billion a year ago [3] - PayPal raised its EPS guidance for fiscal 2024 and has surpassed earnings expectations for four consecutive quarters with an average EPS surprise of 14% [3] Northern Oil and Gas (NOG) - Q2 EPS of $1.46 exceeded estimates of $1.20 by 21%, despite a decrease from $1.49 in the previous quarter [4] - Sales reached $561.03 million, beating estimates by 4% and increasing 35% from $416.49 million in the same quarter last year [4] - NOG is up 16% year to date, trading at a forward earnings multiple of 7.9X, and offers a 3.94% annual dividend yield, which has been increased 10 times in the last five years [4] Investment Outlook - Following strong Q2 results, these top-rated stocks are expected to see upward revisions in earnings estimates, making them attractive long-term investment opportunities [5]