Cloudflare, Inc. (NET) “Is By Far My Favorite,” Says Jim Cramer

We recently published 9 Stocks Jim Cramer Discussed As He Mentioned Trump & Intel’s CEO. Cloudflare, Inc. (NYSE:NET) is one of the stocks Jim Cramer recently discussed.

Cloudflare, Inc. (NYSE:NET) is a cybersecurity firm that enables businesses to secure their cloud, SaaS, and other networks. Its shares have gained 79% year-to-date, which makes the firm one of the top-performing stocks in the cybersecurity sector. However, Cloudflare, Inc. (NYSE:NET)’s shares dipped by 3.7% after the firm reported its second quarter earnings despite the fact that its revenue and earnings beat analyst estimates. While Cramer described the post-earnings-drop-recovery as only natural, the shares are still down by 3% from their pre-earnings levels. The CNBC TV host continues to be a Cloudflare, Inc. (NYSE:NET) fan:

“And these are companies, security, content delivery network, Cloudflare, it’s simple, NET is by far my favorite. Mathew Prince, he’s done s remarkable job in trying to get it so you can’t crawl through, you can’t scrape. He’s trying to preserve the journalists, even us.”

Cloudflare, Inc. (NET) "Is By Far My Favorite," Says Jim Cramer

Photo by Taylor Vick on Unsplash

Here’s what Cramer said about Cloudflare, Inc. (NYSE:NET) after the earnings report:

“Looks like one of my favorites, Cloudflare, is finally getting its due after the cybersecurity company reported an excellent quarter last Thursday night, only to see its stock sink 3.6% on Friday, was dragged down by that quarter’s sell-off. Today, though, Cloudflare snapped back, up more than 4%, which makes perfect sense because these guys delivered a clean beat and raise quarter with better-than-expected numbers in every line for the quarter, and truly strong guidance. Initially, none of this seemed to matter, but with today’s rally, the stock’s now sitting at its highest level in nearly four years and within spitting distance of its COVID-era peak.”

While we acknowledge the risk and potential of NET as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NET and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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.