Jim Cramer on Palo Alto Networks: "I Love Nikesh's Acquisition of CyberArk"

Palo Alto Networks, Inc. (NASDAQ:PANW) is one of the stocks Jim Cramer recently discussed. When a caller mentioned that they wish to buy more of the stock after seeing CRWD’s performance, Cramer said:

“Look, I think it’s good. I’m certainly not going to fight that. The stock is not that down from its high versus a lot of others. But I think that the, let’s say, the secular bull case for cybersecurity has never been better. And I love Nikesh’s acquisition of CyberArk. That is just sensational.”

Palo Alto Networks, Inc. (NASDAQ:PANW) provides cybersecurity solutions, including network, cloud, and AI-driven security. The company’s solutions include virtual firewalls, threat intelligence, and professional and support services. During the September 4 episode, Cramer discussed the stock’s “wild ride.” He remarked:

“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…”

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