Arista Networks Inc (ANET) Is So Good Even Its Competitors Are Impressed, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Mentioned As He Talked About “Love Lost” Between Microsoft & OpenAI. Arista Networks Inc (NYSE:ANET) is one of the stocks Jim Cramer recently discussed.

Arista Networks Inc (NYSE:ANET) is a data center company that sells hardware, such as networking switches, and provides an operating system as well. Its shares have gained 23% year-to-date and jumped by a whopping 17.5% after the firm’s latest earnings report. The report saw Arista Networks Inc (NYSE:ANET) guide third quarter revenue at $2.25 billion, which beat analyst estimates of $2.11 billion. The firm’s second quarter revenue of $2,21 billion also beat analyst estimates of $2.11 billion. Cramer has been a long-term fan of the stock and regretted being unable to discuss the stock during his Mad Dash segment:

“True, and yet I was going to do Arista Net for my Mad Dash. But I didn’t get a chance to. She’s just killing it. She’s killing it. Jayshree Ullal.

“And then I didn’t even to Arista Net and Jayshree Ullal, with some number that even competitors are saying is incredible.”

However, Cramer did manage to discuss Arista Networks Inc (NYSE:ANET) later during the day on Mad Money. Here is what he said:

“And look, this short-busting Palantir is not alone. Stocks in this market fly when they’re heavily shorted and something good, anything good, happens. Take Arista Networks, one of my faves, the data center networking play… If the stock’s been creeping up every step by step, inch by inch, the shorts were increasing their bets the whole time. They figured it was like shooting fish in a barrel.

Then Arista reported, and the numbers, they were stupendous. The last quarter was an apparition. CEO Jayshree Ullal gaffed and gutted the short sellers… The stock managed to shoot up more than 17% today. You don’t find ordinary longs pay up like this. It’s the short sellers panicking, knowing that they’re done, stick a fork in them. They have no choice but to buy, to close out their now losing positions.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.