As working from home has exploded during the COVID-19 pandemic, the need for cybersecurity has surged as well.
That was the message Nikesh Arora, chairman and CEO of Palo Alto Networks (PANW) - Get Palo Alto Networks, Inc. Report had for Jim Cramer on a recent episode of "Mad Money." Arora noted that 75% of consumers don't even know their home router password, let alone check and manage their home network security. Find out more about Cramer and other Real Money columnists investment ideas here.
But more people are learning that there is an economic value to staying secure, no matter where one happens to be, according to Arora.
One of the new products the company is offering is Okyo Garde, a consumer-focused router with a number of uses. Arora said that Okyo Garde is perfect for employees working from home, small businesses that don't have IT support and even basic consumers that just want added protection in their homes.
Arora said that the acceleration of technology adoption continues to be a growth driver for Palo Alto and there's no going back to the old ways of doing business. Palo Alto invested heavily into their platforms when Arora first joined the company, he said, and now they're able to deploy great new products and technologies to their entire customer base, he said.
Shares of Palo Alto have risen more than 90% over the past year.