Jim Cramer Says Palo Alto Networks “Can Keep Climbing”

Palo Alto Networks, Inc. (NASDAQ:PANW) is one of the stocks Jim Cramer shared insights on. During the episode, Cramer discussed the company’s decision to acquire CyberArk. He stated:

“Let’s talk about Palo Alto Networks’ wild ride. This cybersecurity kingpin is a long-time holding for the Charitable Trust, and it has been a huge winner for the CNBC Investing Club. But late July, the stock got clobbered… about its $25 billion plan to acquire CyberArk, another heavy hitter that’s all about protecting so-called administrator accounts, the top target for hackers. Wall Street was worried that this deal was a colossal overpay meant to cover up some sort of slowdown in the core business. Uh-uh, that isn’t what we thought. We have always loved CyberArk, so I didn’t get… negativity. But when Palo Alto reported its most recent quarter in mid-August, well, the company shot the lights out. The stock jumped 9%. I think it can keep climbing…”

Photo by Adam Nowakowski on Unsplash

Palo Alto Networks, Inc. (NASDAQ:PANW) delivers cybersecurity solutions spanning cloud security, network protection, and AI-driven threat defense.

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