Jim Cramer on CrowdStrike: “I’m Thinking This Stock is a $500 Stock”

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the stocks Jim Cramer weighed in on. Noting that cybersecurity stocks seem to be under fire lately, a caller asked if the club’s price target of $520 is still valid on the stock. In response, Cramer said:

“You bet it is, and I think George is doing, I’m speaking here of George Kurtz, there’s a great interview by the way, Yahoo Finance, just tells you all that you need to know. I think CrowdStrike is in, I think it’s a crouching tiger. That’s what I think it is, and I’m thinking this stock is a $500 stock. That’s how much I like CrowdStrike.”

Photo by Adam Nowakowski on Unsplash

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) delivers cybersecurity through its Falcon platform, and it provides cloud-based protection for endpoints, workloads, identities, and data through a subscription model. The company’s services include threat intelligence, vulnerability management, identity protection, AI-driven automation, and security operations tools. Cramer mentioned the stock in the last week of August. He commented:

“The market often gets things wrong during earnings season, but sometimes it self-corrects pretty quickly. Take CrowdStrike, the cybersecurity play that we own for the Charitable Trust. Last night, CrowdStrike reported what I thought was a very good set of numbers. Aside from a slightly soft revenue outlook for the current quarter, everything else was just terrific. Yet the stock plunged in after-hours trading to the point where we told members of the CNBC Investing Club, buy, didn’t even wait, just buy. Sure enough, after opening down hard this morning, CrowdStrike came roaring back, finishing the session up more than 4%. It was the fifth best performer in the entire S&P.”

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