Jim Cramer While Discussing CrowdStrike: 'I'll See You at $1,000'
'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.'
While we acknowledge the potential of CRWD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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