Palo Alto Networks Inc. (NYSE:PANW) impressive run in the market continues, with its stock already up by 5.25% in Intraday trading session. The impressive run has already caught the attention of CNBC’s ‘Mad Money’ hos, Jim Cramer, who continues to remain bullish on the company’s prospects. Palo Alto specializes in offering network security products normally used by enterprises, service providers, as well as government agencies for protection against virus malware and other cyber threats.
Palo Alto Networks Inc. (NYSE:PANW) according to Cramer is set to grow even further, especially in North America where only 5% of the companies have adjusted to meet the high requirements of shielding their networks from cyber-attacks. Cramer expects the company’s stock price to clock highs of $100 a share at the back of further increase in market share in the U.S.
“[…] Mark McLaughlin, he is the CEO of Palo Alto Networks Inc. (NYSE:PANW), this is by far the company that is way ahead of everybody and they will tell you that in terms of cyber security in this country, most companies are nowhere. Only about 5% of the companies have really adjusted. […] Palo Alto got solutions, and that company is going to $100 a share,” said Mr. Cramer.
Security continues to be the top priority for most of the enterprises in the U.S at the back of five Chinese nationals being indicted a few months back, on allegations of hacking a number of American companies. Many companies are now reassessing their infrastructure for the update of their firewalls, a process that will considerably require the services and solutions of Palo Alto Networks Inc. (NYSE:PANW). Cyber-security remains the key specialty for Palo Alto as it has been known over the years to be reliable in providing reliable security solutions.
Palo Alto Networks Inc. (NYSE:PANW) has also been experiencing an impressive run on the financial front having reported better than expected quarterly earnings on May 28 in which earnings per share came in at $0.11, beating consensus estimates of $0.10. The company is already closing in, on its 52 week high of $85.78 raising optimism that it could set a new base.