Jim Cramer While Discussing CrowdStrike: “I’ll See You at $1,000”

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the stocks that Jim Cramer weighed in on. When a caller mentioned that they are thinking of selling the stock as they are up 200%, Cramer commented:

“No, you got, look, you have the best. Okay, you are in the best, other than Palo Alto… Here’s what you’re going to do: You’re going to take out your cost basis, and then you’re going to let the rest run. And I’ll see you at $1,000.”

[Shutterstock: 380107090, scyther5]

CrowdStrike (NASDAQ:CRWD) provides cloud-based cybersecurity solutions through a subscription model. The company delivers protection for endpoints, cloud workloads, identities, and data, along with threat intelligence, AI-driven automation, and security management tools with its Falcon platform. During the July 14 episode, Cramer was quite bullish on the company stock as he said:

“It’s hard to believe that it’s been almost a year since CrowdStrike, the cybersecurity play that we owned for the Charitable Trust, accidentally caused widespread computer outages, the faulty file update, not a hack, like a file update that sent millions of systems offline, halting businesses across the globe. Now, fast forward today, though, and it’s like the outage never happened. Not only is CrowdStrike stock up more than 135% from its post-outage lows, it’s up almost 40% from where it was trading before the outage. That’s because cybersecurity is essential, and this particular cybersecurity firm is incredibly well run and loved in the industry. I’ve never seen such a rapid executed turnaround.”

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