NEW YORK (TheStreet) -- Jim Cramer, who answered Twitter questions from the floor of the New York Stock Exchange on Thursday, said that he gives his blessing to Fitbit (FIT) shares at $35 to $40, and that $38 is an "okay" price. Fitbit soared following its IPO.
Cramer said Fitbit is a profitable company that's had remarkable growth and spoke highly of CEO James Park.
At $35 and $40 ,the stock is being valued a little bit less than GoPro (GPRO), and Cramer thinks Fitbit is bigger than GoPro, given its numbers. Looking at next year's earnings, Cramer said Fitbit's price-to-earnings ratio will be much lower.
Cramer acknowledged concerns about competition from Apple (AAPL), but said, "I actually believe Mr. Park when he says the category is bigger than that. This is a wellness story."
Asked about the valuation of Facebook (FB), Cramer said at current levels, investors are paying an inexpensive price based on Facebook's outlook.
"Mark Zuckerberg is much better than people think. That company is amazing," Cramer said.