We recently published Jim Cramer Discussed A Mysterious Yellow Light & These 9 Stocks.
Palo Alto Networks, Inc. (NASDAQ:PANW) is one the stocks discussed by Jim Cramer
Cybersecurity services provider Palo Alto Networks, Inc. (NASDAQ:PANW)’s stock is up by 25.8% over the past year and by 35% year-to-date. Freedom Capital reduced its share price target from $230 to $210 and kept a Buy rating following the fiscal second quarter earnings report. The financial firm remarked that Palo Alto Networks, Inc. (NASDAQ:PANW) was successfully executing its acquisitions and integrating its platform.
Cramer has been optimistic about the prospects of the cybersecurity industry for more than a year now, as he believes that the growth in computing consumption due to AI use creates more avenues for the sector. In this appearance, he discussed how earlier pessimism about Palo Alto Networks, Inc. (NASDAQ:PANW) was unwarranted: “In the winter, when you thought that Anthropic was going to somehow take care of its own security, George Kurtz has said over and over again, CEO of CrowdStrike, you’re not even allowed to take [inaudible], the insurance won’t let them do that. So these two companies, Palo Alto and CrowdStrike, the world’s their oyester, and when CrowdStrike just collapsed because of Anthropic, was one of the great buys ever.