Jim Cramer breaks down the action behind Yeti's recent moves.
Investors can afford to back off of Yeti now that the stock has pulled back off of the hot gains it carried in recent months, CNBC's Jim Cramer said Monday.
Selling at 19 times the earnings estimates for next year, Cramer said the stock is cheap at current levels. But there are some headwinds in the near future that he thinks investors can avoid by letting it come down and buying shares in stages, he said. Current shareholders can also take some profit at current levels, he said.
Despite positive news that trade talks between the United States and China are progressing, the major indexes ended the session in the negative. The Dow Jones Industrial Average shed more than 200 points, the S&P 500 fell roughly 0.4 percent and the Nasdaq dipped about 0.2 percent. Salesforce did give guide lower than expected for fiscal first quarter, but Cramer said this could be a good buying opportunity for investors.Alteryx delivered a strong quarterly earnings report last week as the cloud software company targets customers that have typically been left out, CEO Dean Stoecker told CNBC Monday.
In order to win in this new retail environment, fashion companies have more factors to focus on beyond selling clothes in in line with the hottest trends, Cramer said.
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