We recently published a list of Jim Cramer October Portfolio: Top 10 Stocks to Buy and Sell. Since Shopify (NYSE:SHOP) ranks 5th on the list, it deserves a deeper look.

Jim Cramer in a latest program commented on the latest stronger-than-expected jobs report, calling it “good news” and expressed surprise at how the stocks “roared” on the report.

“For years, we have been taught that when buying yields go up, stocks go down. Ever since the Fed gave us that double rate cut last month, we have been afraid that they have been acting so decisively. Something might be wrong with the economy—something they knew about, but we didn’t.”

Jim Cramer was also surprised by bank stock gains. He said that these stocks probably rose because a strong employment situation means fewer bad loans. Cramer also said we might be heading to “no landing at all.”

“People have a collective sigh of relief that we weren’t headed for a crash landing. They held onto their stocks with both hands.”

For this article we watched several latest programs of Jim Cramer and picked 10 stocks he’s talking about. With each company we have mentioned its number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

Shopify Inc (NYSE:SHOP)

Number of Hedge Fund Investors: 56

A caller recently asked Jim Cramer whether he’s still bullish on Shopify. Cramer said yes and made the following comment:

“I think that Shopify Inc (NYSE:SHOP) is at a great level to buy. I think Harvey Finkelstein (company President) is doing a terrific job. The stock should be perfect.”

Shopify Inc (NYSE:SHOP) threw it out of the park with its stunning Q2 results. Free cash flow in the period rose a whopping 240% to $333 million. The company saw a 21% year-over-year revenue growth, driven by a 22% increase in gross merchandise volume (GMV) to $67.2 billion, though GMV growth slowed slightly from the previous quarter. The Subscription Solutions segment, which includes all subscription plans, saw a 27% increase in revenue to $563 million. This segment benefits from potential price hikes, which accelerated growth last year. Merchant Solutions, Shopify’s largest revenue contributor, generated $1.48 billion, reflecting a 19% year-over-year increase.