Jim Cramer Has Concerns About Red Hat

TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer is worried about cloud computing company Red Hat  (RHT) - Get Report . 'We saw great numbers from Salesforce (CRM) - Get Report , we saw unbelievable numbers from Adobe Systems (ADBE) - Get Report , very good numbers from Oracle (ORCL) - Get Report when it comes to the cloud,' said Cramer. While Cramer once though Red Hat was well positioned for success in the cloud, he's pulling back a bit because billings were down from the last quarter. 'It's true that cash flow was good, it was true that large orders were good, but I'm taking Red Hat off my list of favorite cloud plays, with the focus more being on Adobe and Salesforce,' he added.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.