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Arista (ANET) to Build Australian Securities Exchange Campus Network
Arista Networks, Inc. (ANET - Free Report) has been selected by the Australian Securities Exchange (“ASX”) to build a next-generation cognitive campus networking environment.
The network will be built using the Arista 720XP series switching platform. It will provide networking connectivity for the ASX’s staff at two major facilities in Sydney and corporate sites in Melbourne and Perth.
Arista is an industry leader in cognitive cloud networking solutions for large datacenter and campus environments. The stock has gained 69.7% in the past year compared with the industry’s growth of 32.4%.
Image Source: Zacks Investment Research
The new campus network builds on a multi-year relationship between ASX and Arista. This includes ASX’s use of Arista’s 7130 platform for high-frequency trading, and Arista Extensible Operating System and CloudVision software for network management and workflow automation.
Arista’s CloudVision platform provides ASX with a real-time view for network monitoring across all devices. The ASX is a flagship client for Arista. It also boasts tie-ups with other leading equity and commodity exchanges around the world.
Arista is likely to benefit from strong momentum and diversification across its top verticals and product lines. In the second quarter of 2021, it surpassed 50 million cloud network port shipments. The Santa Clara, CA-based company continues to navigate a challenging supply environment.
The stock currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader industry are Knowles Corp. (KN - Free Report) , Juniper Networks, Inc. (JNPR - Free Report) , and Qualcomm, Inc. (QCOM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Knowles delivered a trailing four-quarter earnings surprise of 10.8%, on average.
Juniper pulled off a trailing four-quarter earnings surprise of 7.5%, on average.
Qualcomm delivered a trailing four-quarter earnings surprise of 13.5%, on average.