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Jim Cramer says this surging cybersecurity is gaining market share and proving doubters wrong

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Palo Alto Networks is a compelling stock to own as it gains share in the increasingly important cybersecurity market, CNBC’s Jim Cramer said.

and strong guidance. It's further proof that the cybersecurity leader is a compelling stock to own, CNBC's Jim Cramer said Monday as shares surged roughly 15%.

"[CEO Nikesh Arora] snookered all those who felt, 'Well, this can't be true,'" Cramer said on"Squawk on the Street," referring to the belief held by some on Wall Street that Palo Alto's unusual decision to report earnings after the market closed on a summer Friday portended bad news. In the nervous run-up to the earnings release, Palo Alto's stock had fallen about 16% in August.

topping estimates and the company's multiyear guidance looking robust. Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, owns shares of Palo Alto Networks. On Monday, he praised Palo Alto Networks' ability to gain market share in the increasingly important cybersecurity industry.

 

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