Jim Cramer Says Buy Into Upstart And This Professional Networking Stock: They Are 'Stars' That Will 'Last For A Long Time'

CNBC host Jim Cramer has advised investors to initiate positions Upstart Holdings Inc. (NASDAQ: UPST) and Doximity Inc. (NYSE: DOCS), noting that the two companies are “the best of the best” of recent initial public offerings.

What Happened: “Stars last for a long time. So will Doximity and Upstart,” the “Mad Money” host said, noting that both the companies stand out from their newly public peers because they make money.

Cramer recommended investors initially buy small stakes in the two companies and wait for a pullback to buy more shares.

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Why It Matters: Healthcare networking platform Doximity reported its first financial results as a public company on Tuesday. Both earnings and revenue beat analysts’ estimates.

Upstart, an artificial intelligence lending platform, also reported better-than-expected second quarter financial results and issued guidance above estimates. The company claims its artificial-intelligence-powered lending model can provide banks with up to 75% fewer defaults at the same approval rate.

Price Action: Upstart shares closed more than 4% higher in Thursday’s trading at $178.12, while Doximity shares closed almost 13% higher at $79.54.

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