NEW YORK (TheStreet) -- Shares of Palo Alto Networks (PANW) are up Monday after Piper Jaffray raised its price target to $150 from $130. In these times of security breaches, Palo Alto is the "gold standard" of cyber security, TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment.
The stock has done well this year, up nearly 120% for the year to date. Cramer said that while the run seems large, investors need to consider how much Palo Alto Networks' revenue can grow as security breaches become more common.
Think about all the banks, credit card companies and other corporations that have inefficient cyber protection and will need to upgrade, said Cramer, the co-manager of the Action Alerts PLUS portfolio. FireEye (FEYE) , another cyber security firm, is "a very good company" but it isn't the "gold standard," Cramer said.
Cyber security has become a boardroom discussion for many large companies, and that means expect higher revenue for Palo Alto.
Cramer noted that in the spring the stock traded near $65 before shooting up toward $85 in the summer amid speculation Time Warner would accept a buyout offer from 21st Century Fox (FOXA) . After the deal fell through Time Warner's stock dropped into the low $70s.