NEW YORK (TheStreet) -- Shares of Adobe Systems Inc (ADBE) closed down 1.23% to $78.88 in Monday's regular trading session, one day ahead of the software maker's second quarter earnings report, expected to be released after the market closes tomorrow.
Cramer added that the cloud stocks are still the hope in technology.
For the second quarter, the company is expected to earn 45 cents per share on $1.162 billion in revenue, according to analysts polled by Thomson Reuters.
In the same quarter of last year, Adobe earned 37 cents per share on revenue of $1.07 billion.
San Jose, Calif.-based Adobe Systems is a diversified software company that offers a line of products and services used by creative professionals, marketers, knowledge workers, application developers, enterprises and consumers.
The company's business is organized into three segments including digital marketing, digital media, and print and publishing.
Separately, TheStreet Ratings team rates ADOBE SYSTEMS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ADOBE SYSTEMS INC (ADBE) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, solid stock price performance and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow."