Jim Cramer Says “I Think That You Should Buy Cloudflare, Right Here”

Cloudflare, Inc. (NYSE:NET) was one of the stocks on which Jim Cramer shared his take, explaining that dot-com analogies do not hold up in this market. When a caller inquired about the stock during the episode, Cramer said:

I don’t think, I think it took a hit. Now, stocks are overreacting to everything. I didn’t think Matthew Prince did that bad a job in that quarter, but people interpreted that quarter as being a little weak… Therefore, he had to do layoffs. I think it’s the opposite. I think the quarter was fine, and he did the layoffs in order to become more efficient. He did it in a pretty brutal way, frankly, and that made people upset. But I think that you should buy Cloudflare, right here, as a matter of fact. I think this is the level that it holds.

Image by Sergei Tokmakov Terms.Law from Pixabay

Cloudflare, Inc. (NYSE:NET) provides cloud-based security, performance, and networking solutions for businesses, including website protection, Zero Trust security, content delivery, and developer tools. During the May 1 episode, Cramer called it a “terrific cyber defender,” as he commented:

After the close, there’s another consistent winner reporting, Cloudflare. This company does a lot of things with content online, but what I like best is how Cloudflare keeps websites from being pilfered by the big hyperscalers. They’re a terrific cyber defender.

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