Cramer: This Tech Stock Leveraged to Growth Theme

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Disgusted with technology stocks? Jim Cramer identified a theme that he likes despite renewed doubts about the sector triggered by the latest earnings report from Oracle.

"Remember, one of the major tech themes that still works is this idea of big data," said Cramer.

In other words, with digital information increasing by the day companies need to find the best way to analyze it so that they can optimize the way their businesses are run.

"That's where Qlik Technologies comes in," Cramer said. "Traditionally, the way this field works is that you have your data, then your information technology department takes it and puts together a report that you can then access through various software applications."

Qlik, however, has changed the model.

"They've developed a user-driven business intelligence platform that allows the people making the decisions to access and analyze the data directly. And their platform also makes it much easier for people within an enterprise to collaborate and share their findings."

Lane Oatey | Getty Images

For example, Volkswagen uses Qlik's platform to analyze procurement, product management and sales, and SunTrust uses Qlik's platform for analyzing things like corporate performance management, risk management, finance, lending and many more.

Now, looking at the stock itself, "2012 was a rough year, but lately shares have been on a tear. They're are up more than 20% ytd and more than 50% since the November bottom.

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Although momentum looks good, "the stock is far from cheap, selling for 47 times next year's earnings estimates," Cramer said.

However, it's not uncommon for the market to pay up for growth. "Qlik has a 33% long-term growth rate," Cramer added.

In February 2013 the company said fourth quarter revenue in the Americas climbed 42 percent year-over-year. Revenue in Europe grew 20 percent, and in the rest of the world, revenue grew 34 percent during the quarter.

All told, Qlik may be a stock worth watching. Cramer always suggests looking for companies that benefit from themes and Qlik is unquestionably in the thick of things as the digital age advances.

"I think this is a next generation business intelligence company," said Cramer. "This is where the growth is."

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