Shares of Etsy (ETSY - Get Report) are up 13% after reporting a "remarkable quarter," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment Wednesday.

The company missed on earnings per share estimates but topped revenue expectations as sales grew 39% year over year. The company also posted a 64% adoption rate for its mobile app.

"The stock is flying and justifiably so," Cramer said. Etsy is living up to it potential. The stock got off to a rocky start, falling to around $6 per share earlier this year. Since then the stock has more than doubled.

"This is the natural and organic Amazon (AMZN - Get Report) ," Cramer said of Etsy, the handmade crafts and goods marketplace. "It's doing quite well."

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.