But then there are the caveats, said Cramer -- things like the fact that ServiceNow is not yet profitable and currently trades at 15 times sales, a very high multiple.
However, even with the high price tag, Cramer said the markets are clearly enamored by all things cloud computing, which is why he'd wait until the company reports next Wednesday and use any weakness in the stock as an entry point to buy into a stock that very rarely takes a breather.
Back From the Dead
It doesn't happen often, but companies can bring themselves back from the grave, Cramer reminded viewers. That's the case with everyone's favorite Internet punchline, AOL (AOL - Get Report), once the king of dial-up access, but now a largely unnoticed turnaround story.
Cramer said CEO Tim Armstrong has been succeeding by providing users with relevant content, then matching that content to targeted advertising. Acquisitions like Huffington Post and Patch.com have given the company a notable house of brands in which advertisers are becoming increasingly interested. That's helped AOL's paid search ads grow by 8% in its most recent quarter.AOL is also cracking down on expenses, said Cramer, and has recently made a painful but necessary restructuring of its local news service, Patch.com. That restructuring is exactly what the company needed, said Cramer, yet few on Wall Street took notice. More important, AOL has been aggressively buying back its own shares. The company has already reduced its share count from 106 million to 77 million in just a few months time. That's a 27% reduction. Cramer said this aggressive buying and a return to growth makes AOL worth a lot more than its current multiple of 18.3 times next year's earnings.
Lightning RoundIn the Lightning Round, Cramer was bullish on Southwest Airlines (LUV), US Airways Group (LCC), Target (TGT), Ruth's Chris Steakhouse (RUTH) and Yum! Brands (YUM). Cramer was bearish on Advanced Micro Devices (AMD).
Executive Decision: Daniel StarksIn the "Executive Decision" segment, Cramer spoke with Daniel Starks, chairman, president and CEO of St. Jude Medical (STJ - Get Report), a stock that's up 56% for the year despite turning in a mixed quarter with a penny-a-share earnings beat and in-line guidance. Starks said the St. Jude story is one of transitioning from yesterday's medical technology to today's. He said St. Jude's latest devices include disruptive technology that can lower the global health care budget while providing better care to patients and profits for shareholders. Among the company's most promising devices are Nanostim miniature pacemakers and CardioMEMS wireless monitoring technology. Starks said the Nanostim is only a fraction of the size of a traditional pacemaker and has no leads, meaning the procedure to install it is far less invasive yet the device still offers all of the same functionality and longevity. Starks said the device will not likely make it into the U.S.market in 2014, but he said St. Jude and the Food and Drug Administration are working towards getting the product approved as soon as possible. Cramer said winning technology like what St. Jude has to offer will make all the difference, even if it isn't immediately available in the U.S.
No Huddle OffenseIn his "No Huddle Offense" segment, Cramer asked and answered the question of how big-cap growth names such as Google (GOOG) and Chipotle Mexican Grill (CMG - Get Report) can have such monster rallies in a single day. The answer is simple: because they fall that much as well. Cramer said both Google and Chipotle are high-risk, high-reward names that Wall Street either loves or loathes at any given time. Just a year ago, Google's stock was plummeting, but now the company has accelerating revenue growth, the Holy Grail of Wall Street. Chipotle also had a monster plummet in July 2012 but since then is seeing positive same-store sales and is ramping up its ShopHouse Asian Kitchen concept. Cramer said Google can be bought, even up here, but investors should wait for a pullback before investing in Chipotle, which has the higher multiple. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC
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