Jim Cramer on Arista Networks: "That Company is Doing So Well"

Arista Networks Inc (NYSE:ANET) is one of the stocks Jim Cramer was recently focused on. During the lightning round, a caller asked about the stock, and Cramer replied, “Jayshree Ullal is unbelievable… I gotta get her back on the show. That company is doing so well. Great call.”

Arista Networks Inc (NYSE:ANET) develops and sells data-driven networking solutions for cloud, AI, data center, and enterprise environments, built around its Extensible Operating System and related applications. Additionally, it provides cognitive network software, services, and post-contract support for industries ranging from cloud providers to finance, healthcare, and government. Cramer called the company’s stock one of his “faves” during an August episode. He commented:

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