Despite doom-and-gloom from a competitor around cybersecurity spending, Jim Cramer said Friday that it's the perfect time to buy industry leader Palo Alto Networks (PANW), considering the onslaught of recent high-profile hacks and breaches.
PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance In fact, companies need the services of cybersecurity specialists, Palo Alto, more than ever nowadays.
On Oct. 20 , identity management company Okta (OKTA) said its support systems were hacked.
Cramer said Palo Alto Networks stands to benefit.
Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.
Persons:
Jim Cramer, Fortinet, —, Jim, there's, Estee Lauder, we've, Tracey Thomas Travis, Linda Rendle, Cramer, Needham, Jim Cramer's, David Paul Morris
Organizations:
Palo Alto Networks, Palo, Boeing, Palo Alto, CNBC, Bloomberg, Getty
Locations:
Palo Alto, Fortinet, Alto, Palo, Las Vegas, cybersecurity, Santa Clara , California, U.S