Winning ANET Stock Forecast: Arista Networks Gained 48.54% In 3 Month After Strong Bullish Forecast.
Over the period from the10th of January to the 10th of April Arista Networks (ANET) stock rose by 48.54% following a strong buy rating provided by the I Know First stock picking algorithm. Arista Networks is one of the leading computer networking companies. The company develops and manufactures multi-layer network switches to provide software-driven cloud networking solutions for large data center storage. Arista Networks provided more than 20 million cloud networking ports worldwide.
Arista has a rapid pace of development and over the past 5 years the company increased its revenue by more than 400%. Since the beginning of 2017, the company’s results exceeded overall market trends.
Source: Finance.Yahoo
Growing Demand for Cloud
The success of ANET can possibly be put down to the ever-increasing demand for cloud networking solutions. Last year 19% of IT marketing spending was associated with the cloud. According to Gather by 2022 this percentage will increase to 28%, which is more than $1.3T. Gather forecasts the public cloud services market to grow by 17.3 3% this year. According to Wikibon the private cloud market will have compound annual growth rate of 29.2%. By 2027 this number will reach $262.4B. Arista has been performing well under these conditions and has constantly developed new products and technologies in response to the growing demand.
Arista 7130L Announcement
On the 5th of March the company announced new Arista 7130L Series, a high-precision network application platform. This platform provides lower latency data aggregation which enables customers to develop their own high-performance network applications. Arista 7130L is optimized for other Arista network applications. For example, MetaWatch (an application which simplifies tapping networks providing advanced network monitoring for better network analytics) started to provide timestamping at sub-nanosecond accuracy. Also, it boosted the performance of MetaMux (an application which provides a customizable number of multiplexer parameters).
Arista 7360X Series Development
To deliver advanced traffic management the company announced the Arista 7360X Series on the same month. Arista 7360X is designed to provide data transfer speeds and scalable performance for cloud networks, AI and machine learning. This platform will double system density providing customers higher bandwidth. In addition, Arista 7130L will reduce power consumption and cost lowering customers’ CapEx and OpEx. This technology was developed in cooperation with Facebook engineers. Facebook has already improved its power and space efficiency by implementing this technology.
Collaboration With CBC Radio Canada
Another key factor for company’s stock growth was the collaboration with CBC/Radio-Canada. CBC/Radio-Canada has 14 million people as its monthly audience. This radio provides content in English, French and other languages. On April 2, Arista Networks announced that Radio Canada chose Arista to provide CBC with high performance IP switching platforms and other advanced services. Arista’s Media Control Service API can deliver 40 television channels, 40 web channels and 160 radio channels. Switching the infrastructure for its new “Maison de Radio-Canada” in Montreal is expected to be one of the most ambitious and promising growth projects in that industry.
The Artificial Intelligence Algorithm Succeed to Forecast 48.54% Returns in 3 Month
On January 10th 2019, Know First issued a bullish 3-month forecast for Arista Networks (NASDAQ: ANET). The forecast illustrated a signal of 6.39 and a predictability of 0.69. In accordance with the forecast, ANET stock returned 48.54% over this period, highlighting the accuracy of the prediction produced by the I Know First algorithm. Due to the active development of new technologies and successful partnerships we expect ANET shares to continue growing.
Algorithmic traders utilise these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to current I Know First subscribers.
Please note-for trading decisions use the most recent forecast.
