RALEIGH – Red Hat, its stock soaring, is a “cloud king,” declares CNBC business host Jim Cramer.
Monday night on Mad Money, Cramer called the Raleigh-based Linux software and cloud services giant an “excellent” buying opportunity based on its recent performance.
Wall Street investors must like what they see in the Hatters. Red Hat (NYSE: RHT) stock is up 89 percent year-over-year.
The other cloud kings:
- Adobe
- Salesforce.com
- ServiceNow, VMware
- Splunk
- Workday
“I’m calling them ‘the cloud kings,’ the seven software companies that are transforming the way their customers do business,” Cramer declared.
“I’ve been telling you about the cloud revolution for years now, … but the truth is it’s still in its early stages, which is why I still like the seven kings of the cloud.”
Here’s a graphic from CNBC that shows how the seven’s stock has performed over the last year:
Jim Cramer’s “cloud kings”
About Red Hat, Cramer noted:
“The growth has really taken off since they made this move [to help customers build private clouds].
“Red Hat reports in two weeks and Wall Street has a history of misunderstanding this company’s results, causing the stock to get hit. It got hit really badly last time. Let’s hope that happens again. These dips have made for excellent buying opportunities.”
