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CrowdStrike Shares Rally Over 17% on Record Quarter; Jim Cramer Says Buy

CrowdStrike shares surged over 17% after a record fiscal quarter, with CEO citing AI-driven demand. Jim Cramer says stock still has upside.

AI News Feed · 2026-08-28 07:46

The company posted $333 million in net-new annual recurring revenue (NNARR) for the fiscal 2027 second quarter, up 51% year over year and more than $45 million above the high end of guidance. Management also raised its full-year top-line growth forecast, citing a record current-period pipeline. This marked the fifth consecutive quarter of accelerating revenue and the fourth consecutive quarter of accelerating ARR.

Cramer, speaking on CNBC, said, "I think you buy the stock here. I think it takes out the high." He noted that his Charitable Trust has owned the stock "forever" and praised CEO George Kurtz as a "real competitor." The stock hit an all-time intraday high of $227 on Aug. 14, and Thursday's rally left it just shy of a new high.

Kurtz attributed the strong quarter to customer urgency in securing AI adoption through increased cybersecurity investment, as well as a transition from legacy security infrastructure to modern platforms. He also cited the "Mythos moment," referring to the release of Anthropic's Mythos large language model, which is adept at spotting cyber vulnerabilities. Kurtz said during the post-earnings call that "the world came to understand that cybersecurity is a necessity for AI adoption." The company expects demand to remain durable across its portfolio for the next several quarters.

CrowdStrike's results lifted shares of rival Palo Alto Networks, which gained more than 10% on Thursday. Palo Alto is scheduled to report quarterly results next week.

Next week, CrowdStrike will hold its annual Fal.Con conference, which Cramer called "a huge new business line" as the company demonstrates protections against rogue AI agents. Last year's Fal.Con proved to be a major catalyst for the stock.