This Tech Company Is One Of Cramer's 'Absolute Stocks... If It Gets Hit, Buy More'

Author: Avi Kapoor | February 27, 2024 10:03am

On CNBC’s "Mad Money Lightning Round," Jim Cramer said Carvana Co. (NYSE:CVNA) has had a "very, very big move now, I think Ernie Garcia [CEO of Carvana] is doing a terrific job. But you got to wait for a pullback, a lot of it is short squeeze."

On Feb. 22, Carvana reported fourth-quarter revenue of $2.424 billion, which missed the consensus estimate of $2.528 billion, according to Benzinga Pro. The company reported quarterly loss of $1 per share, which missed analyst estimates for a loss of 88 cents per share.

"It is going to be a real battle. And there are so many non-battle stocks right now, you do not need to do a battle," Cramer said when asked about AMN Healthcare Services, Inc. (NYSE:AMN). "Let’s stay away."

On Feb. 15, AMN Healthcare Services reported upbeat fourth-quarter financial results but issued first-quarter revenue guidance below estimates.

Cramer recommended buying Public Storage (NYSE:PSA) and said the stock is down on an opportunity. "These guys are very smart operators," he added.

On Feb. 20, Public Storage posted better-than-expected earnings for its fourth quarter.

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When asked about Vistra Corp. (NYSE:VST), he said, "I have got to study that before I ever recommend it."

On Feb. 23, Vistra said its board has declared a quarterly dividend of 21.5 cents per share of its common stock.

The "Mad Money" host said everybody loves HubSpot, Inc. (NYSE:HUBS) and call it the junior Salesforce (NYSE:CRM). "I think Salesforce is the Salesforce, and you don’t need HubSpot," he noted.

On Feb. 14, HubSpot reported better-than-expected fourth-quarter financial results and issued strong guidance.

Cloudflare, Inc. (NYSE:NET) is one of my "absolute stocks," Cramer said. "There’s just a fantastic narrative there. You must hold on to Cloudflare, and if it gets hit, you buy more."

On Feb. 8, San Francisco-based Cloudflare reported better-than-expected fourth-quarter financial results and issued first-quarter guidance.

Price Action:

• Shares of Public Storage fell 2.2% to close at $278.62 on Monday.
• Vistra shares rose 0.3% to close at $48.75 on Monday.
• HubSpot shares rose 0.3% to settle at $606.96.
• AMN Healthcare Services shares rose 1.8% to settle at $55.83 on Monday.
• Cloudflare shares gained 0.6% to close at $99.08.
• Shares of Carvana gained 0.9% to settle at $69.88 on Monday.

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Image: Shutterstock

Posted In: AMN CRM CVNA HUBS NET PSA VST