Jim Cramer recommends buying newly public JFrog at lower levels: 'It's sizzling'
CNBC's Jim Cramer on Wednesday recommended newly public JFrog as a buy but only after the stock pulls back from its current levels.
Just as he said in endorsing Snowflake, which also made its market debut Wednesday, Cramer said the time to strike will be after another sell-off befalls the high-flying tech stocks.
"JFrog's another terrific company with a stock that's simply too hot to handle right now. It's sizzling," the "Mad Money" host said. "We get sell-offs, and when we do maybe you can get this stock at a much less exorbitant price."
JFrog, which sells enterprise cloud software, closed the session at $64.79, more than 47% above its $44 price in the initial public offering. That IPO was higher than the firm's two prior price ranges and raised the company $510.4 million. The company's platform is used by other businesses that make their own software, such as Microsoft and Amazon, to connect their product development and operations teams.
JFrog counts the 10 largest tech firms in the Fortune 500 among its clients.
More on: www.cnbc.com