Artificial intelligence plays Arista Networks, HubSpot and ServiceNow are trading near buy points for flat bases, along with Ares Management and Neurocrine Biosciences. Ares, Arista Networks, HubSpot and ServiceNow are all members of the IBD 50 list. Arista and ServiceNow also headline five top tech stocks to watch in March.
The Federal Reserve meeting will be key in the coming week. So will AI events from Nvidia and Microsoft, especially for Arista, HubSpot and ServiceNow.
Arista Networks Stock
AI leader Arista Networks features on the IBD Big Cap 20 list. The Santa Clara, Calif.-based company provides cloud networking software for data centers to the likes of Meta Platforms and Microsoft. Arista Networks averaged 52% earnings growth over the last four quarters and on Feb. 12 reported a 48% earnings increase for Q4 results. Revenue popped 21%, but sales growth slowed over the last five quarters.
Arista stock has a 292.66 buy point for its brand-new flat base. Shares bounced off their 50-day and 10-week lines this week, then held their 21-day line on Friday.
ANET rallied 17.9% so far this year.
Arista Networks has a near-perfect 97 Composite Rating out of a best-possible 99. The Composite Rating combines various technical indicators into one easy-to-read score. Arista has a 98 EPS Rating. Its relative strength line is trending higher and ANET has a 94 RS Rating.
Arista Networks was Friday's IBD Stock Of The Day.
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Ares Management Stock
Alternative asset manager Ares Management was Thursday's IBD Stock Of The Day. Ares specializes in direct lending, private equity, and real estate and infrastructure investments. The firm boasted $419 billion in assets under management at the end of Q4, up 19% from year prior, with $111.4 billion in available capital to invest. Meanwhile, rival Blackstone expects deal-making to improve this year as interest rates ease and the real estate market bottoms.
Ares Investment ranks third in the Finance-Investment Management Group according to the IBD Stock Checkup. Apollo Global Management leads the group.
ARES stock has been finding support along its 21-day exponential moving average over the past week.
Shares have a 139.48 buy point for its flat base, matching their record high from Feb. 8. Shares have been finding support at the 21-day.
ARES stock advanced 11.1% so far in 2024. The stock has a 95 Composite Rating and a 97 EPS Rating. Ares Management's relative strength line is off mid-February highs but still has a strong 91 RS Rating.
ServiceNow Stock
ServiceNow is a member of the Leaderboard Leaders list and Big Cap 20 list. Shares of the digital workflow software company are working back toward record highs after ServiceNow in late February expanded its partnership with AI and chip leader Nvidia.
NOW stock flashed an early entry during the week but then tumbled Friday below its 50-day line following weak Adobe guidance.
Friday's heavy-volume slide left NOW stock 2.9% below its 10-week line, but still above the recent March 5 low.
MarketSurge charts indicate an official 815.32 buy point at its all-time high from Feb. 9. NOW stock slid below its 50-day line Friday. Shares climbed 5.3% so far this year.
ServiceNow has a 98 Composite Rating and 99 EPS Rating. It has an 88 RS Rating and its relative strength line has trended lower from its early February highs.
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HubSpot Stock
HubSpot joined the IBD 50 list on Thursday after joining the Sector Leaders list Monday. The Cambridge, Mass.-based company provides customer-relationship software as well as marketing, sales and support for cloud-based products. HubSpot during its Q4 report on Feb. 14 revealed its new HubSpot AI tools, which embed artificial intelligence features across its entire platform.
HUBS stock is trading in a flat base with a 660 buy point as part of a base-on-base formation following a cup breakout in late December.
Shares flashed an aggressive entry midweek, but tumbled Friday after Adobe plunged, though they held the 50-day line. HubSpot's Thursday's high of 637.77 offers a new early entry.
HubSpot has a 95 Composite Rating and a perfect 99 EPS Rating. Shares have an 83 RS Rating.
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Neurocrine Biosciences Stock
Neurocrine Biosciences was the IBD Stock Of The Day for Monday. The biopharmaceutical company develops treatments for under-addressed neurological and hormone-related diseases and disorders. Neurocrine is best known for its Ingrezza drug that treats tardive dyskinesia, which is associated with Huntington's disease and endometriosis. It's currently in early-stage efforts to develop muscarinic receptor-targeting drugs, which could lead to treatments for movement disorders, schizophrenia and central nervous system conditions. Some analysts believe the new portfolio could be worth $1 billion.
NBIX stock is climbing toward its Jan. 29 record high of 143.35, also marking the buy point for its flat base.
Shares on March 8 pushed above their 50-day line. NBIX rose 5.6% so far this year.
Neurocrine Biosciences has a perfect Composite Rating and a 93 EPS Rating. Its relative strength line is on the upswing to its late January highs with an 89 RS Rating.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
