Jim Cramer Says AppFolio Is A 'Good One,' But Summit Therapeutics? 'Can't Go There'

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Summit Therapeutics Inc. (NASDAQ:SMMT) has no revenues. He added, “It's obviously just a very big spec. I can't go there.”

However, HC Wainwright & Co. analyst Mitchell Kapoor, on Jan. 21, reiterated Summit Therapeutics with a Buy and maintained a $44 price target.

This Financial Company Is ‘Good’

Cramer said HSBC Holdings plc (NYSE:HSBC) is a “good” company, but added that he would recommend Banco Santander, S.A. (NYSE:SAN) if he is going to buy one of those that's a foreign bank.

HSBC, meanwhile, on Jan.6, named Lisa McGeough as President and CEO for the United States.

Tech Stocks In Focus

When asked about Western Digital Corporation (NASDAQ:WDC), he said, “I have read so many upgrades of Western Digital that I have to believe the stock is way too cheap.”

On the earnings front, Western Digital, on Jan. 29, reported better-than-expected second-quarter revenue results.

AppFolio, Inc. (NASDAQ:APPF) is a “cheap” stock, and it's a “good one,” Cramer said. “That one rocks.”

AppFolio, on Jan. 30, also reported better-than-expected sales results for its fourth quarter.

The Mad Money host said he doesn't want to sell Adobe Inc. (NASDAQ:ADBE) down here. He added, “I know that it seems like a tough stock to own. I can't sell at 21 times earnings.”

However, Deutsche Bank analyst Brad Zelnick, on Jan. 8, downgraded Adobe from Buy to Hold and lowered the price target from $600 to $475.

Price Action:

• HSBC shares fell 0.5% to settle at $52.43 on Friday.
• Summit Therapeutics shares fell 3.9% to close at $21.50 during the session.
• Western Digital shares fell 1% to settle at $65.13.
• AppFolio shares dipped 7.8% to close at $233.91 on Friday.
• Adobe shares fell 1.9% to settle at $437.45.

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