10 Stock Predictions That Jim Cramer Got Right Again

7. Shopify Inc. (NASDAQ:SHOP)

Number of Hedge Fund Holders: 77

In that older episode, a caller asked whether it was time to buy back into Shopify Inc. (NASDAQ:SHOP), which had dropped roughly 20% following a disappointing earnings report. Cramer wasn’t ready to recommend buying more just yet, urging caution and patience. He said:

“I think you can hold Shopify… You know, Shopify did miss, it did have some issues. I think you actually have to wait till the next quarter, see if those issues are resolved. There was a spending issue — they didn’t seem to need to spend more to get business. I do like the company very much, but I’m not going to just send you in when it’s not the sector in the market that’s doing well.”

Cramer was right to like Shopify as the stock has risen by +76.06% over the past year.

Shopify Inc. (NYSE:SHOP) is a Canadian e-commerce platform that enables businesses of all sizes to create online storefronts, process payments, and manage inventory and logistics.

Cramer commented on the stock’s weird performance following its earnings reports and said something positive about it on May 2:

“Thursday, we get Shopify’s numbers. Here’s another stock that tends to sell off on good news and then rallies when people parse it out and realize that, wow, this company’s more than just a poor man’s Amazon.”