"He's been very negative on PayPal. He started talking about his negative thesis being derailed," Cramer said Thursday on "Squawk on the Street."
"This guy has been down there giving them the business every single time. [CEO] Dan Schulman delivering, delivering, delivering; Munster slamming, slamming, slamming."
Munster reiterated his "underweight" rating on the stock but raised his price target slightly, to $34 from $33, after PayPal reported quarterly results.