Jim Cramer often tells investors to scour the market in an attempt to find new opportunity.
And he hopes as you investigate the many possibilities, you're keeping a close eye on SAP, the software giant based in Germany.
Shares of are down 12 percent year to date; that's despite the Street's affection for so-called 'old tech' companies including Cisco, Microsoft and Intel.
"I think part of the problem here is that SAP has similarities with the 'new tech' stocks that have become so hated by Wall Street. SAP has made a big push into big data and the cloud, two areas where the pure plays have just been eviscerated lately. And SAP is still investing heavily in these businesses."
In addition, Cramer says the latest earnings were hardly anything to shout about.
"When the company reported its most recent quarter in mid-April, it missed both the revenue and earnings numbers, largely because of currency fluctuations."
And, Cramer added, SAP is struggling with management turnover, something the Street often views with skepticism.
"About a month ago SAP's widely respected chief technology officer announced he would be stepping down. Also, the chief financial officer is retiring this summer."
All told, there's been every reason for bears to maul SAP. However, in their zeal, Cramer thinks the stock may have declined too much.
"SAP still has a ton of experience. I think they could blow many of their neophyte competitors out of the water in the cloud. In fact, SAP's cloud business is growing like a weed; it's up 38 percent."
Also Cramer said SAP kicked off its big Sapphire conference in Orlando with the Street eager to hear about new products and partnerships.
"We're going to be a very successful growth company. I see potential everywhere," said CEO Bill McDermott, referring to future opportunities for SAP.
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All told, Cramer thinks SAP could be near a point of inflection. As noted above, Cramer thinks this stock belongs on your radar.
"Sentiment is so low that I think the company has a real opportunity to turn its stock around," he said. "It's the cheapest in the group, right now. Incredible."
It may be about to play a serious game of catch-up.
Call Cramer: 1-800-743-CNBC
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