Jim Cramer is all praise for Arista Networks CEO after Q1 earnings

Famed investor Jim Cramer is all praise for Jayshree Ullal - the chief executive of Arista Networks Inc (NYSE: ANET) after her company reported financial results for its first quarter last night. 

Cramer has been bullish on Arista Networks

Arista Networks handily topped Street estimates for both profit and revenue in its first financial quarter. According to the Mad Money host:

Investing in the computer networking company is attractive at writing also because its share of ports is finally starting to beat that of Cisco. 

Note that Cramer did recommend buying Arista Networks shares on a pullback in mid-February. 

Morgan Stanley sees upside in $ANET to $340

Arista Networks did come in ahead of expectations in terms of future guidance as well but its outlook, nonetheless, suggested a bit of a slowdown moving forward. 

That’s because artificial intelligence will take until next year (when power, cooling, and GPUs are more available for customers) to present itself as a more pronounced tailwind for $ANET - CEO Ullal told analysts on the earnings call on Tuesday. 

Also today, analysts at Morgan Stanley raised their price target on Arista Networks stock to $340. That suggests a 15% upside from here. 

The New York listed firm also authorised another $1.2 billion in stock repurchase last night.