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Juniper (JNPR) Stock Soars 58.9% YTD: What's Driving it?

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Shares of Juniper Networks, Inc. JNPR have returned 58.9% year to date compared with the industry’s growth of 23.1%.

Zacks Investment Research
Zacks Investment Research

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The Sunnyvale, CA-based company delivered a trailing four-quarter earnings surprise of 8%, on average. The Zacks Consensus Estimate for its next-year earnings has been revised upward by 1.6% over the past 90 days.

What’s Driving the Rally?

Juniper is witnessing strong momentum across its core industry verticals and is confident of its long-term prospects. It continues to resolve supply chain challenges and increase inventory levels to limit disruptions.

Investments in customer solutions and sales organizations have enabled the company to capitalize on the solid demand across its end markets. It is witnessing encouraging trends across various areas of its business, including solid momentum in Mist Systems and strength in the services organization.

Juniper has collaborated with Intel to accelerate advancement in the Open RAN ecosystem. The move reflects Juniper’s efforts to bring openness and innovation to a traditionally closed-off part of the network, providing a faster route-to-market for service providers and enterprises to deliver 5G, artificial intelligence and edge computing.

Juniper has been selected by Bharti Airtel, a leading communications service provider in India, to deliver network upgrades for the expansion of the latter’s broadband coverage across the country. As Airtel prepares for 5G, Juniper will support its fiber-to-the-home broadband services expansion and other use cases across business segments.

CMC Networks, a global service provider of market-leading networking solutions, became the first Juniper partner to offer a managed AI-driven SD-WAN solution in Africa. By leveraging Juniper’s Session Smart Router technology driven by Mist AI, CMC is delivering a tunnel less solution designed for automated management with superior performance of real-time traffic.

Capital Online, a China-based global data center and cloud service provider, has selected Juniper to build an expanded network infrastructure to support its growing cloud business while simplifying network operations management through automation. SINET, a leading Internet and telecommunication service provider in Cambodia, has chosen Juniper to upgrade its network infrastructure.

Juniper is witnessing strong order momentum across verticals, customer solutions and geographies. We believe that the company is well-positioned for long-term sustainable growth.

Zacks Rank & Stocks to Consider

JNPR currently carries a Zacks Rank #3 (Hold).

Clearfield, Inc. CLFD is a better-ranked stock in the industry, sporting a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for its current-year earnings has been revised upward by 8.8% over the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.

Clearfield delivered a trailing four-quarter earnings surprise of 50.8%, on average. The stock has soared 240.2% in the past year.

Qualcomm, Inc. QCOM, carrying a Zacks Rank #2 (Buy), is another solid pick for investors. The consensus estimate for next-year earnings has been revised upward by 1.2% over the past 30 days.

Qualcomm pulled off a trailing four-quarter earnings surprise of 11.2%, on average. It has appreciated 22.2% in the past year.

Sierra Wireless, Inc. SWIR also carries a Zacks Rank #2. The consensus mark for next-year earnings has been revised upward by 300% over the past 60 days.

Sierra Wireless pulled off a trailing four-quarter earnings surprise of 34.2%, on average. The stock has returned 16.2% in the past year.


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