Bears are Losing Control Over Arista Networks (ANET), Here's Why It's a 'Buy' Now

Core Viewpoint - Arista Networks (ANET) has experienced a recent decline in share price but shows potential for a trend reversal due to a hammer chart pattern and positive earnings estimate revisions from analysts [1][2] Group 1: Technical Analysis - A hammer chart pattern formed in the last trading session indicates that the stock may have found support, suggesting a possible trend reversal [1] - The hammer pattern signifies that bears may have lost control over the price, with buying interest emerging after a new low [1] - Hammer candles can appear on various timeframes and are used by both short-term and long-term investors, although they should be combined with other bullish indicators for confirmation [1] Group 2: Fundamental Analysis - There has been a 5.2% increase in the consensus EPS estimate for ANET over the last 30 days, indicating strong agreement among analysts about the company's potential for better earnings [2] - ANET holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks, which typically outperform the market [2] - The Zacks Rank serves as a timing indicator, suggesting that the company's prospects are beginning to improve, further supporting the case for a trend reversal [2]