The Nasdaq 100 technology index was the biggest gainer on Wall Street so far in 2023. The decline in inflation and the easing of fears of further Fed rate hikes continue to boost companies in the technology sector.
It should be noted that the nasdaqthe index that groups technological companies, is the one that rises the most so far in 2023, with a rise of 42.3% so far this year to reach its highest level since April 2022.
Arista Networks
Arista Networks, the Santa Clara, California-based network infrastructure company that sells switches that speed communications behind the scenes of packaged computer servers in data centers, has managed to wrest market share from its main rivals. Its two biggest clients are Microsoft and Meta Platforms.
Arista is scheduled to present its second quarter results on Monday, July 31. Consensus estimates anticipate that Arista will obtain a profit of 1.43 dollars per share in the second quarter, 33.3% more than the 1.08 dollars per share in the same quarter of the previous year.
Revenue is expected to increase 30.5% over the same period last year, to $1.37 billion, driven by strong demand for its cloud computing network equipment from large enterprises, government agencies, and institutions educational.
cloudflare
Cloudflare shares are up 49.5% year to date. The next major catalyst will come when Cloudflare releases its second quarter results on Thursday, August 3, and it is expected to break its sales record again.
The San Francisco, California-based provider of cloud networking and security solutions is expected to earn $0.07 per share, versus breakeven earnings per share in the prior-year period.
Meanwhile, revenue could rise 30.4% year-on-year to $305.8 million.
Unsurprisingly, Wall Street analysts are very bullish ahead of the second-quarter report, raising their earnings-per-share estimates 19 times in the past three months to reflect an increase of more than 400% over their expectations. initials.
Palo Alto Networks
Palo Alto Networks is a leader in the cybersecurity software industry. Its core product is a platform that includes advanced firewalls and intrusion prevention systems that offer network security, cloud security, and endpoint protection.
The last 36 analyst earnings per share reviews were all upwards with 37 analysts having an equivalent buy rating on the stock versus 6 holding equivalent ratings and 0 selling equivalent ratings.
CrowdStrike
CrowdStrike one of the leading companies in the cloud-based cybersecurity sector. The Austin, Texas-based giant is expected to post explosive profit and sales growth when it releases its second-quarter financial results on Wednesday, August 30.
Earnings estimates have been revised up 25 times in the past 90 days, according to an InvestingPro survey, compared to just three downward revisions. Additionally, more than three-quarters of analysts surveyed by Investing.com rate CRWD a “Buy” equivalent.
Consensus calls for earnings of $0.56 per share, which is a 55% improvement over the previous year’s earnings per share of $0.36. Revenues are forecast to rise 35.3% to a record $724.4 million.
zscaler
Zscaler shares had excellent momentum this year. The San Jose, California-based company, which provides automated threat forensics and dynamic malware protection against advanced cyberthreats, is expected to post strong double-digit growth in its fiscal fourth quarter.
An InvestingPro survey of analyst earnings reviews points to growing optimism ahead of earnings releases in early September. Earnings estimates have been revised up 29 times in the last 90 days, compared to zero downward revisions.
Consensus expectations call for Zscaler to earn $0.49 per share, up 96% from $0.25 per share in the previous quarter. If confirmed, it would be the most profitable quarter in the company’s history.
Source: Ambito
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