Jim Cramer sorted through tech and energy stocks on CNBC's Mad Money Lightning Round, and one company clearly stood out from the pack.
When asked about NetApp, Inc. (NTAP), Cramer offered a decidedly underwhelming assessment, calling it an "ok company." That's hardly a ringing endorsement, though the data storage company has been putting up solid numbers. NetApp reported second-quarter results on November 25 that sailed past expectations, with earnings of $2.05 per share beating the $1.89 consensus and revenue of $1.71 billion topping estimates of $1.69 billion. The company also raised its full-year adjusted EPS guidance.
The real star of Cramer's picks was Rubrik, Inc. (RBRK). "I can't say enough about how great the trajectory of this company is," Cramer said. "I think you should own it, continue to own it." That's about as bullish as it gets on the Lightning Round.
The cloud data security company has given Cramer plenty of reasons for optimism. On December 4, Rubrik delivered third-quarter results that beat expectations across the board and issued fourth-quarter guidance above analyst estimates. Management also raised full-year guidance higher than Wall Street had anticipated.
Not every stock earned Cramer's approval. He gave a thumbs down to Patterson-UTI Energy, Inc. (PTEN), the oilfield services company. That negative view aligns with recent Wall Street sentiment. JPMorgan analyst Arun Jayaram downgraded Patterson-UTI from Neutral to Underweight on December 10, slashing the price target from $7 to $6.
Cramer also pumped the brakes on FuboTV Inc. (FUBO), though not because of fundamental problems. The streaming platform "had had a big run, and I don't think there's any need to pile on at this price. I think it's just too high," he explained. FuboTV reported third-quarter 2024 earnings on November 3, with revenue declining 2.3% year-over-year to $377.20 million, though that still beat the consensus estimate of $361.33 million.
Price Action:
- NetApp shares slipped 0.9% to settle at $110.90 on Monday.
- Rubrik shares gained 2% to close at $79.71 on Monday.
- Patterson-UTI Energy shares rose 1% to close at $5.89.
- FuboTV shares fell 2.2% to settle at $2.65 on Monday.
