Palo Alto Networks (PANW - Get Report) is Jim Cramer's preferred stock to own for cybersecurity. In his exclusive ActionAlertsPLUS Members Only Call in November he told members, "It doesn't take a genius to figure out that the need here is on the rise. Remember the Equifax hack? Or the WannaCry that struck last year? I've had two hacks on my credit cards, two, in the last 18 months. These are the examples illustrating the absolute necessity for companies to invest in software security."

Since the call in November shares of Palo Alto have advanced over 20% and this morning, received an upgrade from both UBS and BMO, both of whom think there is still more than 20% upside from here.

Cramer acknowledges that there other names in the sector to keep an eye on, but as he told his members in the call Palo Alto is the one to own. "FireEye niche, very good at what it does. CyberArk, very good at what it does. Fortinet, very good at what it does. But, Palo Alto does it all."

Palo Alto Networks is a holding in Jim Cramer's charitable trust, ActionAlertsPLUS.com. Want to be alerted before Jim Cramer buys or sells PANW? Learn more now.