Jim Cramer’s 2024 Portfolio: 5 Latest Stock Picks

4. Palo Alto Networks Inc (NASDAQ:PANW)

Number of Hedge Fund Investors: 77

Palo Alto Networks Inc (NASDAQ:PANW) shares recently slipped after Palo Alto Networks Inc (NASDAQ:PANW) posted Q4 results and gave a weak full-year revenue and billings guidance. Palo Alto Networks Inc (NASDAQ:PANW) now expects billings for fiscal 2025 between $10.1 billion and $10.2 billion, down from a previous range of $10.7 billion to $10.8 billion.

But Jim Cramer believes the latest dip in Palo Alto Networks Inc (NASDAQ:PANW) shares is a buying opportunity. Cramer said investors should buy the ‘pure panic’ around Palo Alto Networks Inc’s (NASDAQ:PANW) decline after its earnings.

TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about Palo Alto Networks, Inc. (NASDAQ:PANW) in its Q3 2023 investor letter:

“Across the Information Technology universe, we seek companies possessing differentiated capabilities, products, and services. Palo Alto Networks, Inc. (NASDAQ:PANW) supplies network and cloud-based security solutions to enterprises, service providers, and government entities. The latest quarter was mixed with the company falling shy versus the Street on billings, in line for revenues, and outpacing earnings. Palo Alto’s updated guidance was materially ahead of lowered Street expectations. Nevertheless, its shares pulled back by -8%.”