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Palo Alto Networks tumbles on earnings once again. It's another chance to buy the cyber stock

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Jim Cramer,Investment Strategy,Markets

Wall Street's reaction to Palo Alto Networks' report seems overdone. Like its past two earnings sell-offs, we think investors should buy the dip.

Another earnings report, another sell-off in extended trading for Palo Alto Networks . But like the two releases preceding Monday night's results, we're looking at the decline as buying opportunity for long-term investors. Revenue during the cybersecurity company's fiscal 2024 third quarter increased 15% year over year to $1.985 billion, beating the consensus estimate of $1.967 billion that was compiled by LSEG. Adjusted earnings per share grew 20% to $1.

Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.Another earnings report, another sell-off in extended trading for

 

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