Priya PatelTLDR:
- Jim Cramer praises Cloudflare’s earnings, highlighting their reacceleration of earnings and cybersecurity work.
- Cramer prefers Palo Alto Networks as the Investing Club’s preferred cybersecurity stock.
- Bitcoin prices rising have led to a surge in the stock of cryptocurrency trading platform Coinbase Global.
- PepsiCo’s Q4 earnings exceeded expectations, but sales fell due to the shift in consumption habits.
- Affirm Holdings experienced a drop in stock despite better-than-expected earnings and revenue.
Cloud software company Cloudflare has experienced a 32% increase in revenues in Q4 2023, the largest gain since 2012. Jim Cramer praises the company’s reacceleration of earnings and its success in securing major contracts, including one from the Department of Commerce. Cramer also highlights that Cloudflare’s focus on cybersecurity is paying off.
The CNBC Investing Club’s preferred cybersecurity stock is Palo Alto Networks. Cramer prefers this stock over Cloudflare, emphasizing its strength in the cybersecurity market.
Cryptocurrency trading platform Coinbase Global saw a surge in its stock price by over 6% as Bitcoin prices rose above $47,000. Cramer notes that crypto-related equities and digital currencies tend to trade together, and the recent increase in Bitcoin’s price has positively impacted Coinbase’s stock.
PepsiCo reported Q4 earnings per share that beat Wall Street expectations. However, sales fell short due to the shift in consumption habits caused by more people working away from home. Cramer attributes the decline in Pepsi’s stock price to the fact that the stock had already seen a significant increase prior to earnings.
Despite announcing better-than-expected quarterly earnings and revenue, Affirm Holdings experienced a drop in its stock price by more than 8%. Cramer believes this is due to negative sentiment surrounding the company’s CEO and co-founder, Max Levchin.
