Jim Cramer Believes AeroVironment “Remains a Very Compelling Growth Story” Long Term

AeroVironment, Inc. (NASDAQ:AVAV) is one of the stocks Jim Cramer recently commented on. Cramer highlighted the company’s earnings during the episode, as he remarked:

“What do we make of these numbers from AV, the old AeroVironment? The drone maker reported a mixed quarter, management cut their full-year earnings forecast. Long term, though, I think this remains a very compelling growth story.”

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AeroVironment, Inc. (NASDAQ:AVAV) develops robotic and autonomous systems, including uncrewed aircraft, counter-UAS tools, precision-strike solutions, and advanced AI, autonomy. In addition, the company provides space, cyber, communications, and intelligence systems used in defense and commercial applications. Cramer mentioned the company during the September 5 episode and commented:

“Here’s one worth watching, drone maker AeroVironment, which reports Tuesday after the close. We had them on when they reported last, okay, and I loved what I heard, but I felt like I was alone. Stock was doing nothing, even when it dipped. Then AVAV, when I talked it up on Squawk on the Street, the darn thing levitated, and it never came back down… And you can see, nice move up. The defense budget’s rapidly evolving. We recognize that drones are a more efficient way to make war than other, let’s say, than how about $100 million fighter planes. Again, like Oracle, a good number could be met with profit taking, but I’m mindful that AeoVironment’s got a terrific story to tell.”

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