People Liked Five Below, Inc. (FIVE) Because Of Value, Says Jim Cramer

We recently published 10 Latest Stocks on Jim Cramer’s Radar. Five Below, Inc. (NASDAQ:FIVE) is one of the stocks Jim Cramer recently discussed.

Like its other budget peers, Five Below, Inc. (NASDAQ:FIVE)’s shares have also performed well this year. They have gained a strong 51% year-to-date, benefiting from several catalysts such as a massive 12% jump in May. Five Below, Inc. (NASDAQ:FIVE)’s shares soared after the firm raised its fiscal first-quarter revenue and earnings guidance, and analysts from Truist and JPMorgan raised their price targets for the firm. More recently, Five Below, Inc. (NASDAQ:FIVE) jumped by 3.2% as it raised its annual adjusted earnings guidance to a midpoint of $4.96 from an earlier $4.49. Looking at the raises, it’s clear that the firm is benefiting from higher foot traffic at its stores. Cramer agrees:

“Well look, last week you saw, that . . .people liked Five Below, people liked. . .anybody who offer good value.”

Here are Cramer’s previous thoughts about Five Below, Inc. (NASDAQ:FIVE):

“I mean I would say that if you default to the companies that have reported in the last 24 hours, actually not a bad bunch to default to, what you find out is that what are the American people doing? Well the American people are shopping at . . .Five Below. . .And that is a sign that the American people do not feel very secure. And that’s something that Home Depot said, they don’t feel very secure. That is going to keep projects on the sidelines and keep people from spending the way that they would like.”

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Disclosure: None. This article is originally published at Insider Monkey.