Tomahawk, WI 09/11/2014 (Basicsmedia) – The need to protect data on the cloud in the U.S according to CNBC’s Jim Cramer has made cyber security a hot topic consequently providing sustainable growth opportunities for Palo Alto Networks Inc.(NYSE:PANW). Cyber security according Cramer remains a niche business that is slowly turning out to be lucrative.
Cramer argues that Palo Alto Networks Inc. (NYSE:PANW) may have the best technology in the business, which should give it an added advantage in providing solutions for cyber security compared to its peers.
“The company has always been a pioneer. Back in 2007 they were the first to market with the concept of a next generation Firewall, which combined a traditional Firewall with application controlled functionality and an intrusion prevention system,” said Mr. Cramer
Palo Alto networks according to Cramer remains a viable solution for combating cyber intrusions in the sense that it can simplify network security instead of having to bundle a number of products from different vendors. After reporting an impressive quarter compared to its peers Cisco Systems, Inc. (NASDAQ:CSCO) and Juniper Networks, Inc. (NYSE:JNPR); the analyst believes the upside is far much greater than the downside and that the stock could hit highs of $100 a share very soon.
Cramer also argued that the company’s products have a technological advantage compared to those of its rivals as they never result in much performance degradation in terms of speed when one is using Firewall. Doing things differently according toPalo Alto Networks Inc. (NYSE:PANW) CEO, Mark McLaughlin, has worked the magic in fending off competition from other vendors who also offer cyber solutions.
“[…] what the market needs today is the ability not only to detect bad things, but also prevent them. Palo Alto Networks has invented an enterprise platform to do that. That covers not only the network cloud but also now the end points as well and that’s resonating with the markets,” said Mr. McLaughlin.
In line with the recent hacking on Apple’s iCloud, the CEO reiterated that Palo Alto Networks Inc. (NYSE:PANW) could have detected such attacks way earlier considerably limiting the severity of the damage.
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