Is it time to buy Domino's Pizza, Inc. (DPZ - Get Report) stock? According to the analysts at Baird, it certainly is.

They initiated the pizza-maker with an outperform rating and $260 price target. November would have been a more opportune time to buy, when the stock was at $170, but the current price target still implies almost 20% upside to the stock. 

Last quarter, reported on Feb. 20, was not as great as many were hoping for, TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment. Domino's missed on revenue expectations -- its first in nearly two years -- as its international segment faced headwinds.

Those headwinds were mainly in Japan and seem to be resolved, though, Cramer noted.

Baird says the company is well-positioned to take advantage of the "sizable and fragmented" global pizza market. Cramer seemingly agreed, saying "this is the one" that can keep growing.

Cramer pointed out that Papa John's Int'l, Inc. (PZZA - Get Report) had "horrendous" numbers. Also, even though investors are getting excited about Pizza Hut's results for Yum! Brands, Inc. (YUM - Get Report) , keep in mind that the company is shrinking its store count.

Domino's is the early leader in the autonomous delivery race, just like it was the leader in online and mobile ordering a few years ago, noted Cramer, who also manages the Action Alerts PLUS charitable trust portfolio.

This led to rapid growth, as millennials and other customers quickly adopted this new convenience. Further, it helped cut down on costs, because less mistakes were made in the process because the ordering system was so much more efficient.

Want it in a nutshell? Domino's is the world's pizza leader, Cramer concluded.

Domino's ended higher by 0.85% Tuesday, closing at $221.44.

This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.