Don't pass up the chance to buy a great company on a discount, TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment Tuesday. After Visa (V - Get Report) reported "great" earnings results last week, shares of both Visa and Mastercard (MA - Get Report) were on the move higher, he pointed out.
However, on Tuesday before the open, Mastercard reported great results of its own, beating on earnings and revenue estimates. Sales jumped 18.1% year-over-year and even though margins slipped 90 basis points, earnings of $1.34 per share came in well ahead of the $1.23 consensus estimates.
Mastercard's only flaw? Rallying into the quarter due to Visa's results, Cramer said. Shares are still up 42% on the year.
Investors won't get many buying opportunities in names like Visa and Mastercard, which just keep climbing on the year. So with Mastercard stock down, "it's a gift," reasoned Cramer, who also manages the Action Alerts PLUS charitable trust portfolio. CEO Ajaypal Banga is "unbelievably good" and investors should consider the opportunity at hand with Mastercard down after a great result, he concluded.
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